Seen But Not Heard? The Significance of Shareholders Under Pt 5.3a of the Corporations Act
Insolvency Law Journal, Vol. 16, p. 222, 2008
14 Pages Posted: 14 Aug 2010 Last revised: 12 Sep 2010
Date Written: 2008
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