--- In otmushrooms@..., nick4mony <no_reply@y...> wrote:
> --- In otmushrooms@..., nick4mony <no_reply@y...>
> > Leaflet content
> > ---------------
> > I am in the process of typing up a leaflet and I hope to put a text
> > version on here later today.
>
> Correction: later tomorrow (Tuesday).

The proposed brocure content is below. I would appreciate comments.
I'm also still looking for anyone to share the cost of printing. Any
takers?

Depending on the kind of brochure we print, it will have something
like the content further below.

Brochure printing costs vary from $17.10 to $58.00 per 200, depending
on coloured paper, folding, and quantity. The cheapest price involves
printing two per A4 sheet, then chopping them in half (guilotine).

All prices were for double-sided B&W printing on A4 paper. Some
suppliers were even more expensive, especially for small runs.

I designed the content for a 6-panel brochure. If I decide on a
half-A4 sheet, then I will use a cut-down version of panels 1, 2, 5, & 6.


Content below (a bit overdue, a bit messy because of text format)
Panel 1
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YOU ARE ABOUT TO BE RIPPED OFF

Don't save the trees,
Don't save the whales,
SAVE YOURSELF

Insolvency law does not protect creditors

(cartoon of some type)


Panel 2
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The current insolvency law

Insolvency law is too complex.
Most creditors only deal with an insolvency process once in their
lifetime.
They deal with company directors and Administrators (or other
"professionals") who deal with the law day in – day out.
This is a recipe for deception and misinformation.
A Deed of Company Arrangement is very open to abuse – very often, it
is Phoenix Company fraud in disguise.
The reality is that Administrators are often chosen by the company
directors, so Administrators do things to suit them.

A word about real estate law

The real estate problem is similar – consumers, who go through the
procedure only a few times in their lifetime, dealing

with an industry that works with it seven days a week.
Again, this is a recipe for deception and misinformation.
For more information about real estate deceptions in Australia, see
http://jenman.com/

Panel 3
-------
What this campaign is about

We believe that insolvency law is too complex and allows unfair behaviour.
All creditors are having problems.
The odds are stacked against creditors, because of these things:
· For most, this is the first time they have dealt with an insolvency
· It is hard for creditors to find out their rights, and even harder
for them to enforce their rights
· Legal advice is extraordinarily expensive
Rogue directors engage in Phoenix Company fraud – a well known problem.
A Deed of Company arrangement isn't much different for creditors –
they don't get paid and the Directors continue their business.
The company can make huge profits in the future, and leave past
creditors in the dust.

This campaign is not about ...

It is not about getting a 100% payout in all cases.
It is not about preventing companies from failing, especially if they
have no genuine future.
The best thing to do here is to distribute the remaining assets
efficiently amongst creditors.
It is not about abolishing the concept of "limited liability", which
is a very important driver in this economy.
We focus on activity that is clearly evasive, fraudulent, or unfair.

Issues for employees

Employees are treated a bit differently to other creditors in a case
of insolvency – it seems they enjoy better protection than trade
creditors in a case of insolvency. However, there are several issues
that affect them badly:
· Their employer is usually the only source of income.
· It takes the Tax Office a very long time to credit Superannuation to
the right account, long after the Administrator has paid (if they pay
...).
· Many employees have large entitlements potentially due to them
because of their loyalty over many decades – which can all be put at
risk within weeks because of adverse events the employees have no
control over.
· The eligibility criteria for GEERS includes some requirements that
are not directly under the employees' control. Example: an employer
who doesn't call in an Administrator at all.
· The Deed of Company Arrangement, used when the employer is trading
out, has an effect on their eligibility for

GEERS.

Issues for Trade Creditors

Many trade creditors are small businesses who can ill-afford the money
lost to the insolvent debtor, let alone expensive legal advice.

Issues for the man in the street

The Tax Office is often a creditor – and they bear the brunt of much
unfair behaviour. Every other tax-payer is making up the shortfall.

You pay more tax because of biased Administrators.

Panel 5
-------
A simple law

Insolvency laws should not have so many twists and turns. We demand
these things:
· A simple definition of insolvency – making it easier for any
creditor owed an overdue debt to take action.
· A random or round-robin allocation of Administrators to insolvency
cases. That way, Directors have no control over

the appointment.
· Clearly defined options in an insolvency procedure.
· Any option that involves the company trading out must achieve 100%
payment of debts.

Stop the abuses

· Legal trickery
· Phoenix company fraud
· Deeds of Company Arrangement – often a different form of Phoenix
company fraud.
· Biased Administrators (or other professionals)

Panel 6
-------
Further Action

Find out what other creditors are going through ...
Join the OT Mushrooms email group
http://yahoogroups.com.au/groups/otmushrooms/
Contact the Tax Office Super Help-line (in Australia: ph 13 10 20),
and demand your super now.
Contact your M.P. or election candidates and let them know insolvency
law is an issue.
Write a letter to a newspaper
Contact the author, Nick Bishop
otmushrooms-owner@...

Volunteers always welcome

About OT Mushrooms

This email-based group was set up by Nick Bishop in response to the
(partial) collapse of Open Telecommunications. Most of the members
were ex-employees, but is now becoming a forum for all creditors who
have suffered at the hands of an insolvency.
----------------------
End of brocure content.