Issue No 45 | 10 March 2000 | |
NewsPush to Strike Out Parrish Directors
The Australian Securities and Investment Commission has been asked to investigate whether the directors of Parrish Meats should be prevented from setting up companies in the future.
Invoking rarely used sections of the Corporations Code, the NSW Labor Council has written to the ASIC to look into the provisions that allow directors to be struck out after presiding over two insolvencies within a five year period. Under sections 599 and 600 of the Corporations Law directors who have presided over two or more companies that have gone into external administration within a seven year period owing more than 50 cents in the dollar to creditors can be prevented from managing another corporation for a period of up to five years. While the federal government plans to remove these sections from the Code this week, Labor Council lawyers say they are to be replaced by new sections with even tougher provisions. ASIC has already refused to investigate allegations of insolvent trading against the Parish meat directors, but has yet to look into sections 599 and 600. The two directors - Ken Parrish and Colin Lord - appear to have been involved in other failed enterprises before the collapse of Parrish Meats in August last year left about 120 workers up to $1 million out of pocket. According to a directorship search conducted at the ASIC, Parrish had been involved in the failure of two companies (Parrish Meats and South Coast Bulk Carcass Carriers Pty Ltd) and Lord four (Direct Acceptance Corporation, Direct Acceptance Investments, South Coast Bulk Carriers and Parrish Meats).
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Interview: Working Women Nareen Young talks about how services are being delivered to our most vulnerable workers - and what unions need to do to make them their own. Unions: Into the New Frontier IT professionals are part of the new workforce that unions need to win over - and while they are often contractors, they're workers too. History: Handling The Ladies 1943 - women were filling the gap in the workforce left by the diggers abroad and Australian managers needed some advice on how to deal with these strange creatures. Technology: Building The Hypermacho Man In a stinging critque of the �Wired� culture, Melanie Stewart Miller argues digital cultural is creating a new super-Man. International: The Long March Home Trade union women round the world used International Women�s Day to launch the World March of Women Against Poverty and Violence. Satire: Kerosene Dilution Racket The nursing home industry has been rocked by a new scandal with the revelation that some unscrupulous proprietors have been diluting their patients� kerosene baths with illicit liquids. Review: Power and the Back Bar In an upcoming book, Julia Gillard argues the ALP retains a male culture that is fast losing step with contemporary society.
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