People,

This leaflet is half an A4 sheet, double-sided, ie A5. I have 200
printed on yellow paper. The main difference between the last message
and this message is the authorisations at the bottom.

You will note there are no employee issues described on the leaflet -
it gets a bit crowded to try to squeeze issues of GEERS and Super onto
the leaflet, in a way which demands further drilling down.

However, I am making a web page that will have these issues in more
details, titled Issues for Employees and Creditors, to be linked
direct from the Unpaid Mushrooms home page.

You will also note that despite the renaming, the URL and email
address will stay the same - it will be quite disruptive to change these.

SIDE 1
======
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



The current insolvency law
Insolvency law is too complex.

Most creditors only deal with an insolvency process once in their
lifetime.

It is too hard for creditors to know their rights, even harder for
them to enforce their rights, and too easy for Administrators (or
other professionals) to take advantage of this.

A Deed of Company Arrangement is very open to abuse - very often, it
is Phoenix Company fraud in disguise.

The company can make huge profits in the future, and leave past
creditors in the dust.

The reality is that Administrators are often chosen by the company
directors, so Administrators do things to suit them.



Help us change insolvency law



SIDE 2
======
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.
+ 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)


Further Action
Find out what other creditors are going through ...
Browse or join the Unpaid Mushrooms email group
http://yahoogroups.com.au/groups/otmushrooms/

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 Unpaid Mushrooms
Nick Bishop set up this email-based group, originally named OT
Mushrooms, in response to the (partial) collapse of Open
Telecommunications. With this group, we broke the isolation that
redundant employees and other creditors often face.

This group is now open to all creditors to discuss insolvency issues.
Join, or just browse.

Authorised by Nicholas Bishop, Suite 1104, 530 Lt Collins St,
Melbourne 3000.
Printed by Busy Bee, 6/456 St Kilda Rd, Melbourne 3004.