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Record with two other small propriety companies

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Reference no: EM131676430

Assume Mr Shifty's family company goes into liquidation. In her report to ASIC, the liquidator states that the secured creditors have been paid in full but the but the unsecured creditors will receive not more than 20 cents in the dollar. The liquidator does not find any evidence of wrong doing on the part of Mr Shifty or any of his fellow directors. What (if any) ramifications does this have for Mr Shifty, assuming ASIC's records over the last nine months had a similar track record with two other small propriety companies.

Reference no: EM131676430

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