Risky Business

Risky Business shows how the law deals with [the] issues that commonly confront advisers, and how the law also leaves some issues to the winds, with ‘only’ ethics as guidance. Peter Agardy’s readable and knowledgeable account contributes to the on-going debate of the issues involved. - Michael H Murray, From the Foreword …This work provides the busy legal practitioner, accountant and financial planner with an understanding of structuring options available, their features and how these options have been tested and treated by the Courts… - Anthony Lo Surdo, SC Peter’s book fills a long standing void in the asset planning market. It meets the needs of both the layperson wanting to implement legally prudent and effective asset planning strategies, and professionals wanting to understand the broader legal and regulatory environment from which asset planning strategies are launched… - Gess Rambaldi, Partner, Pitcher Partners Businesses fail all the time, but few people plan for such a fate, says Agardy, a barrister with extensive experience in insolvency practice. While this book is aimed at financial advisers, it treads a fine line, given the high-wealth individuals who have been engaged in elaborate plans to defeat creditors. But Agardy says it is small business people who are most at risk. He says there is nothing illegal or unethical about asset planning, but any plan to defeat creditors will always be a risk. - Paul Cleary, The Deal - The Australian Business Magazine, March 2014 The author considers the mechanisms within the insolvency system available to trustees in bankruptcy in order to pursue particular assets and transactions. Practical and useful examples involving scenarios with particular structures are given throughout the text and the language used is clear, with the result that the book will be a useful resource for both the seasoned and inexperienced practitioner. Read full review… - Inprint, Law Institute Journal Victoria, June 2013 John F Kennedy, in his first State of the Union address, said that “while hoping and working for the best we should prepare ourselves for the worst”. This quote sets the scene for this useful outline of asset protection issues for businesses and individuals. In 80 pages it manages to cover a range of relevant issues including structuring options, an overview of the insolvency system, particular issues relating to discretionary trusts, superannuation, wills and family court matters. The practical examples of how different structures might respond in the case of a risk event like death, divorce, dispute, duties and debt is particularly helpful. The complex legal and ethical issues that can arise when advising clients about the limits of the obligation to pay debts are also canvassed. Together with a checklist of issues to consider, this serves as a comprehensive outline for professional advisers. - Catherine Kennedy FCA, Charter, August 2013

Peter worked as an auditor with Deloittes for a short time before doing his articles at Middletons, where he remained as an employee solicitor for a further year. He joined Strongman and Crouch as an employee solicitor, becoming a partner in 1982. Peter joined Cornwall Stodart as a partner in 1991, where he remained until he joined the Bar in May 2003.

Peter is well known for his insolvency expertise and has acted regularly for trustees in bankruptcy, liquidators, receivers, creditors and administrators of companies.

He is a member and former national chairman of the Insolvency and Reconstruction Committee of the Law Council of Australia, and a member of the Editorial Boards of the Insolvency Law Journal and the Insolvency Law Bulletin.

Peter authored the chapter on bankruptcy investigations in Laws of Australia and has represented the Law Council of Australia in Senate Committee hearings. He is a Nationally Accredited Mediator under the Australian National Mediator Accreditation Scheme and has been appointed Mediator in a wide range of disputes.