Australia: insolvency – October 2007

Clint Hinchen and Ada Lam, Allens Arthur Robinson

CAMAC considers implications of Sons of Gwalia decision

In brief: The Corporations and Markets Advisory Committee (CAMAC) has released a discussion paper on the implications of the Sons of Gwalia decision, which discusses whether aggrieved shareholders should rank with unsecured creditors in the event of a liquidation or voluntary administration. Partner Clint Hinchen and Lawyer Ada Lam report.