The head of the corporate watchdog says this court case ‘will be studied by directors, executive management and their advisers for years to come’. Here’s why.
- Professor of Corporate Law, University of Sydney
It’s certainly been in the news a lot this year. But is it the same for people and companies? What’s the famous Chapter 11? Is bankruptcy always the end of the road?
ASIC is stultifying under ineffective governance and a mandate so broad that it can point to almost any action as being relevant to its duties.
Director’s responsibilities are to the company, not the the owners, even if those owners are the government.
Special purpose liquidators are appointed by courts to pursue specific tasks in liquidation, in the case of Queensland Nickel, this will mean investigating Clive Palmer’s dealings.
Australians still have lingering beliefs about bankruptcy as a crime. This has to change if we want to foster business innovation.
Australia’s insolvency laws are behind world best practice and need reform.
Contact Jason for
- General
- Media request
- Speaking request
- Consulting / Advising
- Research collaboration
- Research supervision
- Location: Sydney, Australia
- X (formerly Twitter): @corporatelawAU
- Article Feed
- ORCID
- Joined
