Insolvency affects everyone
Early detection is critical to curbing illegal phoenix activity and preventing smaller scale insolvencies from becoming more significant
More needs to be done to protect honest industry participants from unscrupulous individuals
Subcontractors have a right to be paid for work completed
Information asymmetries

Conduct of inquiry
Acknowledgements
Structure of report

What is insolvency?
Structure of the Australian construction industry
Insolvency in the construction industry
Causes of insolvency

Creditors
Total Economic Cost
Public Revenue
Conclusion

Social impact
Effect on productivity
Potential to attract criminal elements

What is phoenix activity?
Incidence of phoenix activity
Effect of illegal phoenix activity
Curbing illegal phoenix activity
Other criminal and civil misconduct related to insolvencies

Background
The National Australia Bank's relationship with Walton Constructions
Problem of pre-insolvency advice
Licensing—a failure of the regulator?
Impact of Walton Constructions Collapse
Conclusion

Disqualification of directors
Director Penalty Regime
Transactions entered into in order to avoid employee entitlements 

Early warning signs of insolvency
Security of payments protections

False statutory declarations
Intimidation and retribution
Enforcement costs
Education and support
Authorised Nominating Authorities
Adjudication timelines
The problem of insolvency
No national security of payments Act

Exploring a statutory construction trust model for security of payments
In favour of the trust
Opposition to the trust
How would the trust operate?
Conclusion

Conclusion

Legal obligation to warn of impending insolvency
Increasing transparency and verifying company directors
Problem of pre-insolvency advice
Valuing debt assignments fairly
Transfer of jurisdiction of insolvency matters