Jonathan Rochford
Why should poorly run companies be given more time to steal from their employees, taxpayers and trade creditors? Why should management and directors be allowed to gamble with other people’s money when they won’t put their own money into a failing venture? How is Australia being innovative by backing businesses with a history of not paying their debts? In their haste to support a weakening of insolvency legislation, which is currently being considered by Federal Parliament, many company directors and legal advisers have failed to answer these basic questions.
Critics and supporters of the proposed safe harbour changes agree that insolvency in Australia can be improved. Both…
Read the full article at: http://www.afr.com/opinion/columnists/safe-harbour-laws-just-sink-employees-taxpayers-and-creditors-20170621-gwvjhr
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