IPA submission to CAMAC - Sons of Gwalia

IPA has lodged a submission with CAMAC on its discussion paper on shareholder claims issues arising out of the Sons of Gwalia administration.

IPA says that claims from shareholders in relation to share purchase or retention should not be allowed to be provable claims in an insolvency. However, if it is decided that they should remain provable, then the IPA makes suggestions for law reform in order to allow insolvency administrators to deal with these types of claims.

Further details can be obtained from the IPA's technical director, Kim Arnold.