ARITA

Mass request a reminder that Amerind ain’t over

FEG Recovery Unit Director Henry Carr. The Commonwealth is coming and in hindsight the mass of request for information letters sent to registered liquidators (RegLiqs) recently by the FEG Recovery Unit should not surprise. Once FEG’s view on corporate trustees and circulating assets was vindicated by the High Court, as it was last June in: Carter Holt Harvey Woodproducts Australia Pty Ltd v The Commonwealth…

Read More

Industry acts as Treasury releases phoenix reforms

Federal Treasury yesterday released its Reforms to combat illegal phoenix activity – Draft Legislation and the insolvency industry’s key association produced a summary of the exposure draft’s key points and invited members to provide feedback for inclusion in the Australian Restructuring Insolvency & Turnaround Association’s (ARITA) submission. The reforms – which are a centrepiece of Financial Services Minister Kelly O’Dwyer’s anti-phoenix crusade, will: Create new phoenix offences to target those…