ASIC on watch for phoenix revivals

Original article by David Ross
The Australian – Page: 18 : 18-Jan-21

The Australian Securities & Investments Commission will crack down on phoenix activity in the corporate sector as the federal government winds back insolvency protections that were introduced in response to COVID-19. ASIC commissioner Diana Steicke says the corporate regulator has no evidence to suggest that this will lead to an increase in phoenixing; however, she says ASIC will keep a watch on high-risk company directors and pre-insolvency advisers who could potentially engage in such activity.

CORPORATES
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

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