📘 Bell Group Companies (Finalisation of Matters and Distribution of Proceeds) Act 2015
038 of 2015Assented 26 November 2015· Treasurer
The Act finalises matters related to the Bell Group companies, which collapsed in the 1990s, and provides for the distribution of proceeds from litigation and asset recovery to creditors. It establishes an Authority to manage the process and dissolve the companies.
Impact
Creditors of the Bell Group companies will receive distributions. The State government takes control of remaining assets after the winding up. The Act also protects certain parties from liability related to the Bell Group collapse.
Sectors
financepublic_sectorjustice
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