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.
AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION