Ross Asset Management, Dick Smith collapses spur insolvency law changes

Mon, 15 May 2017

By Paul McBeth May 15 (BusinessDesk) - The Ross Asset Management Ponzi scheme and the collapse of consumer electronics retailer Dick Smith have prompted recommended changes to insolvency law that's currently under review. The Ministry for Business, Innovation and Employment is seeking feedback on a number of recommendations to amend the law, including how administrators deal with Ponzi schemes. Because the Ross Asset Management case is currently before the Supreme Court, the MBIE paper doesn't settle on any recommendations, saying once a...

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