Insolvency and Bankruptcy
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Over 3 billion a year is lost to creditors by the unlawful conduct of directors, including phoenix activity, Each and every week thousands of hard working tradies lose out, putting pressure on small business and their families alike.Its a costly battle and when you win, there are more loop holes directors can try, to avoid paying their debts .I like, many have found the legal system lets most of us down.ASIC, who's sole purpose is to stop this, have to work harder, and be more accountable, the courts need to be tougher,Australia needs new laws.Individuals such as accountants and companies assisting and advising in these illegal activities, when caught, should be heavily fined and forced to pay compensation, even jailed.If we do nothing we stay "a paradise for white collar crime"
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