Seen But Not Heard? The Significance of Shareholders Under Pt 5.3a of the Corporations Act
Insolvency Law Journal, Vol. 16, p. 222, 2008
University of Queensland TC Beirne School of Law Research Paper No.10-27
14 Pages Posted: 14 Aug 2010 Last revised: 12 Sep 2010
Date Written: 2008
Abstract
The article considers the interests of company members as stakeholders in the event of a company entering voluntary administration and suggests that while shareholders hold a residual interest, they nonetheless have an interest in ensuring that that the company is rescued and perhaps therefore have a role to play in the rescue of the company’s business. In doing so it argues that there is some inconsistency in recent changes in Ch. 5 regarding the role of shareholders with some changes recognising their role while others have sought to downplay it.
Keywords: shareholders, voluntary administration, insolvency, companies
JEL Classification: K22
Suggested Citation: Suggested Citation