Australian Securities and Investments Commission (ASIC) commissioner John Price said current laws made it difficult to pursue directors who liquidated a company and then created ‘phoenix’ entities to avoid paying debts.
Read more at The Age.
ASIC puts liquidators on notice over illegal phoenixing This is your last free article for this month
The corporate regulator has put company directors and the insolvency industry on notice that it intends to take full advantage of proposed new laws dealing with illegal phoenix activity.
