Professor John Stumbles

BA LLB (Hons) (Sydney) LLM (Penn)
Professor of Finance Law

F10 - Law School (Camperdown)
The University of Sydney

Telephone +61 2 9351 0480
Fax +61 2 9351 0200

Biographical details

John Stumbles is a Professor of Finance Law and was previously a Professor of Law at University of Technology, Sydney. Prior to that he was a banking and finance partner at the law firm Mallesons Stephen Jaques (now King & Wood Mallesons) where he still remains a consultant.

He has expertise in the regulation of banking services, derivatives, clearing and payment systems and in the law of insolvency, set-off and netting. He has practised, written and lectured on matters relating to banking and finance and insolvency law. More recently, he has provided advice in relation to the central clearing of derivatives within Australia.

His expertise in payment systems and insolvency was drawn upon by the Australian Government and Reserve Bank in connection with the introduction into Australia of legislation relating to netting and real time gross settlement. His dual expertise in banking and insolvency law has been drawn upon by banks in structuring work outs for distressed corporate borrowers. He was involved in consultations with the Australian Government concerning new law regulating security over personal property and as now seen in the Personal Property Securities Act 2009.

Research interests

  • Equity and commercial law
  • Bankruptcy and insolvency
  • The impact of statute on the general law
  • Personal Property Securities Act
  • Insolvent Trusts: the impact of insolvency law on insolvent trustees and insolvent trust funds
  • The Hague Convention on the Law Applicable to Certain Rights in respect of Securities held with an Intermediary
  • The UNIDROIT Convention regulating dealings in securities held by intermediaries

Teaching and supervision

  • Personal Property Securities
  • Equity and Financial Risk Allocation
  • Insolvency Law

Selected grants

2012

  • Regulation and Reforms to Enhance Financial Stability in the Post-GFC Era; Hill J, Bird J, Cooper G, Dirkis M, McCracken S, Stumbles J, Tolhurst G, Vann R; Centre for International Finance and Regulation/Research Support.

Selected publications

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Books

  • McCracken, S., Bird, J., Stumbles, J., Tolhurst, G. (2013). Everett and McCracken's Banking and Financial Institutions Law – 8th Edition. Sydney, Australia: Thomson Lawbook Co. (Thompson Reuters).

Book Chapters

  • Stumbles, J. (2014). PPSA Aus: Security Interests and Notices under s 260-5 of the Taxation Administration Act 1953 (Cth). In S. Griffiths, S. McCracken, A. Wardrop (Eds.), Exploring Tensions in Finance Law: Trans-Tasman Insights, (pp. 199-222). Wellington, New Zealand: Thomson Reuters.
  • Stumbles, J. (2013). Allocation of Risk. In Sheelagh McCracken, Joanna Bird, John Stumbles, Greg Tolhurst (Eds.), Everett and McCracken's Banking and Financial Institutions Law – 8th Edition, (pp. 243-269). Sydney, Australia: Thomson Lawbook Co. (Thompson Reuters).
  • Stumbles, J. (2008). General Considerations in Taking Security. In Stephen Jaques Mallesons (Eds.), Australian Finance Law, 6th Edition. Australia: Lawbook Co.
  • Stumbles, J. (2008). Some Hidden Aspects of Workouts. In Gregory Burton SC, Prudence Weaver, Gerard Breen, Alan Tyree (Eds.), Law Relating to Banker and Customer in Australia. Australia: Lawbook Co.
  • Stumbles, J. (2004). Should Australia adopt an insolvency procedure based on Chapter 11 of the US Bankruptcy Code? Global Insolvency and Restructuring Year Book 2004/05. United Kingdom: Euromoney Institutional Investor PLC.
  • Stumbles, J. (1998). Insolvency and Reorganisation in Australia. Euromoney UMA Guide to Insolvency and Reorganisation.
  • Stumbles, J. (1998). Regulation of Custodians in Australia. Custodial Services in Asia. United States: ISI.
  • Stumbles, J. (1990). Corporate Benefit and the Guarantee. In G. Burton (Eds.), Directions in Finance Law. Australia: Butterworths.

Journals

  • Gummow, W., Stumbles, J. (2014). Marshalling, the Personal Property Securities Act 2009 and third party securities: Highbury and Szepietowski - New applications of enduring principles. Journal of Banking and Finance - Law and Practice, 25(2), 106-114.
  • Stumbles, J. (2013). The Impact of the Personal Property Securities Act on Assignment of Accounts. Melbourne University Law Review, 37(2), 415-462.
  • Stumbles, J. (2011). Personal Property Security Law in Australia and Canada: A Comparison. Canadian Business Law Journal, 51(3), 425-446.
  • Stumbles, J. (2011). The PPSA: The Extended Reach of the Definition of the PPSA Security Interest. University of New South Wales Law Journal, 34(2), 448-471.
  • Stumbles, J. (2006). Members as Creditors: Sons of Gwalia Limited Federal Court Appeal Unsuccessful. Australian Resources and Energy Law Journal, 25(1), 90-98.
  • Stumbles, J., Kerr, E. (1998). New Australian Netting Law Bolsters Financial System. International Financial Law Review.

Conferences

  • Stumbles, J. (2011). Financing Transactions and the Relentless Intrusion of Statutory Regulation. 28th Banking and Financial Services Law Association Conference (BFSLA 2011), Gold Coast, NSW: Presentation.
  • Stumbles, J. (2011). Superannuation Trustees and Secured Transactions. 23rd Annual Conference of the Law Council Superannuation Committee of Australia 2011: Super - A Paradise Lost?, Surfers Paradise, Qld: Presentation.
  • Stumbles, J. (2005). Bank Syndicates: Difficult Questions in Workouts. Insolvency Practitioners Association of Australia Conference (IPAA 2005), Adelaide, SA: Presentation.
  • Stumbles, J. (2005). Contractual Workouts - Issues for Creditors. Corporate Turnaround and Insolvency Congress 2005, Sydney, NSW: Presentation.
  • Stumbles, J. (2003). Workouts. 20th Banking and Financial Services Law Association Conference (BFSLA 2003), Queenstown, NZ: Presentation.
  • Stumbles, J. (1999). Liquidations, Workouts and Restructurings in Australia. Infrastructure Conference 1999, Manila, Philippines: Presentation.
  • Stumbles, J. (1997). Reorganisations and Restructurings in Australia. Multinational Commercial Insolvency Conference 1997, New York, NY, USA: Presentation.
  • Stumbles, J. (1993). Foreign and Multi-National Business Insolvency in Australia. Multinational Commercial Insolvency Conference 1993, Toronto, ON, Canada: Presentation.
  • Stumbles, J. (1992). A Review of the New Preference Provisions in the Corporate Law Reform Bill. Adelaide Seminar 1992, Adelaide, SA: Presentation.
  • Stumbles, J. (1992). Lending Practices after the Linter Decision. Perth Seminar 1992, Perth, WA: Presentation.

Magazine / Newspaper Articles

  • Stumbles, J. (2007). Creditors Have a New Reason to Worry. Australian Financial Review.

Report

  • Hill, J., Cooper, G., Dirkis, M., McCracken, S., Stumbles, J., Tolhurst, G., Vann, R. (2014). Regulation and Reforms to Enhance Financial Stability in the Post-GFC Era - Report for the Centre for International Finance and Regulation (CIFR).

2014

  • Gummow, W., Stumbles, J. (2014). Marshalling, the Personal Property Securities Act 2009 and third party securities: Highbury and Szepietowski - New applications of enduring principles. Journal of Banking and Finance - Law and Practice, 25(2), 106-114.
  • Stumbles, J. (2014). PPSA Aus: Security Interests and Notices under s 260-5 of the Taxation Administration Act 1953 (Cth). In S. Griffiths, S. McCracken, A. Wardrop (Eds.), Exploring Tensions in Finance Law: Trans-Tasman Insights, (pp. 199-222). Wellington, New Zealand: Thomson Reuters.
  • Hill, J., Cooper, G., Dirkis, M., McCracken, S., Stumbles, J., Tolhurst, G., Vann, R. (2014). Regulation and Reforms to Enhance Financial Stability in the Post-GFC Era - Report for the Centre for International Finance and Regulation (CIFR).

2013

  • Stumbles, J. (2013). Allocation of Risk. In Sheelagh McCracken, Joanna Bird, John Stumbles, Greg Tolhurst (Eds.), Everett and McCracken's Banking and Financial Institutions Law – 8th Edition, (pp. 243-269). Sydney, Australia: Thomson Lawbook Co. (Thompson Reuters).
  • McCracken, S., Bird, J., Stumbles, J., Tolhurst, G. (2013). Everett and McCracken's Banking and Financial Institutions Law – 8th Edition. Sydney, Australia: Thomson Lawbook Co. (Thompson Reuters).
  • Stumbles, J. (2013). The Impact of the Personal Property Securities Act on Assignment of Accounts. Melbourne University Law Review, 37(2), 415-462.

2011

  • Stumbles, J. (2011). Financing Transactions and the Relentless Intrusion of Statutory Regulation. 28th Banking and Financial Services Law Association Conference (BFSLA 2011), Gold Coast, NSW: Presentation.
  • Stumbles, J. (2011). Personal Property Security Law in Australia and Canada: A Comparison. Canadian Business Law Journal, 51(3), 425-446.
  • Stumbles, J. (2011). Superannuation Trustees and Secured Transactions. 23rd Annual Conference of the Law Council Superannuation Committee of Australia 2011: Super - A Paradise Lost?, Surfers Paradise, Qld: Presentation.
  • Stumbles, J. (2011). The PPSA: The Extended Reach of the Definition of the PPSA Security Interest. University of New South Wales Law Journal, 34(2), 448-471.

2008

  • Stumbles, J. (2008). General Considerations in Taking Security. In Stephen Jaques Mallesons (Eds.), Australian Finance Law, 6th Edition. Australia: Lawbook Co.
  • Stumbles, J. (2008). Some Hidden Aspects of Workouts. In Gregory Burton SC, Prudence Weaver, Gerard Breen, Alan Tyree (Eds.), Law Relating to Banker and Customer in Australia. Australia: Lawbook Co.

2007

  • Stumbles, J. (2007). Creditors Have a New Reason to Worry. Australian Financial Review.

2006

  • Stumbles, J. (2006). Members as Creditors: Sons of Gwalia Limited Federal Court Appeal Unsuccessful. Australian Resources and Energy Law Journal, 25(1), 90-98.

2005

  • Stumbles, J. (2005). Bank Syndicates: Difficult Questions in Workouts. Insolvency Practitioners Association of Australia Conference (IPAA 2005), Adelaide, SA: Presentation.
  • Stumbles, J. (2005). Contractual Workouts - Issues for Creditors. Corporate Turnaround and Insolvency Congress 2005, Sydney, NSW: Presentation.

2004

  • Stumbles, J. (2004). Should Australia adopt an insolvency procedure based on Chapter 11 of the US Bankruptcy Code? Global Insolvency and Restructuring Year Book 2004/05. United Kingdom: Euromoney Institutional Investor PLC.

2003

  • Stumbles, J. (2003). Workouts. 20th Banking and Financial Services Law Association Conference (BFSLA 2003), Queenstown, NZ: Presentation.

1999

  • Stumbles, J. (1999). Liquidations, Workouts and Restructurings in Australia. Infrastructure Conference 1999, Manila, Philippines: Presentation.

1998

  • Stumbles, J. (1998). Insolvency and Reorganisation in Australia. Euromoney UMA Guide to Insolvency and Reorganisation.
  • Stumbles, J., Kerr, E. (1998). New Australian Netting Law Bolsters Financial System. International Financial Law Review.
  • Stumbles, J. (1998). Regulation of Custodians in Australia. Custodial Services in Asia. United States: ISI.

1997

  • Stumbles, J. (1997). Reorganisations and Restructurings in Australia. Multinational Commercial Insolvency Conference 1997, New York, NY, USA: Presentation.

1993

  • Stumbles, J. (1993). Foreign and Multi-National Business Insolvency in Australia. Multinational Commercial Insolvency Conference 1993, Toronto, ON, Canada: Presentation.

1992

  • Stumbles, J. (1992). A Review of the New Preference Provisions in the Corporate Law Reform Bill. Adelaide Seminar 1992, Adelaide, SA: Presentation.
  • Stumbles, J. (1992). Lending Practices after the Linter Decision. Perth Seminar 1992, Perth, WA: Presentation.

1990

  • Stumbles, J. (1990). Corporate Benefit and the Guarantee. In G. Burton (Eds.), Directions in Finance Law. Australia: Butterworths.

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