Legal News & Insights
Changes to company laws has tightened regulation of Australia’s company law landscape, targeting illegal phoenixing and extending director liabilities. It’s estimated that the annual direct impact of phoenixing activity costs the Australian economy between $2.85 and $5.13 billion.
If you’re not an officially appointed company director, you may be operating as a shadow director, or de facto director. You need to be aware of your legal obligations, especially if there’s a question of insolvency or fraud.