Looking more at deregistered companies
“Enforcement agencies have long been aware of the role that the abandonment [deregistration] of companies plays in illegal phoenix activity. In 1995 the Australian Securities Commission (ASIC’s predecessor) estimated that 92 per cent of phoenix companies at the time were being deregistered under the ASC’s s 574 program (the predecessor to s 601AB of the […]
Thoughts on the PJC’s Corporate Insolvency Report
The Parliamentary Joint Committee on Corporations and Financial Services (‘PJC’) handed down its Report into Corporate Insolvency in Australia on 12 July. The Report contains 28 recommendations spread over 14 chapters and runs to over 350 pages. The PJC inquiry has been very thorough, with 78 written submissions (including a submission by ourselves), 5 days […]
