The Australian government’s proposed director identification number is just one weapon in the war against company phoenixing.
By Michelle Lindsay
In December 2013, Australian designer jeans label Ksubi was placed into receivership after 13 years in business, putting around 60 employees out of work. While on the surface this was simply a story of a local brand failing to survive in a competitive market, the truth was murkier. Three years earlier, the Ksubi brand had been sold to clothing manufacturer Bleach Group after going into administration. Then, in August 2013, it was sold again this time to a company called Mentmore.
Investigation by liquidators, assisted by the Assetle…
Read the full article at: https://www.intheblack.com/articles/2018/02/01/new-laws-phoenix-activity
