Draft Treasury Laws Amendment (Combating Illegal Phoenixing) Bill 2018 & Insolvency (Related Creditor Voting Rights) Rules – proposed legislation for various ‘anti-phoenixing’ measures announced in 2018 Federal Budget
On 16 August 2018, Treasury released draft legislation to give effect to a range of measures to both deter and disrupt illegal phoenixing and more harshly punish those who engage in and facilitate this illegal activity. The Government announced these measures in the 2018 Federal Budget. There is both legal and illegal ‘phoenix’ activity, and it…