Directors Beware – ASIC and Liquidators have enhanced new powers to combat Company Phoenixing
Company Directors need to ensure that they are aware of and compliant with the new Illegal Phoenixing Laws that were introduced this week.
The new phoenix offences will prohibit creditor-defeating dispositions of company property and penalise those who engage in or facilitate such dispositions and allow Liquidators and ASIC to recover such property.
