The Greens are demanding a Senate inquiry into the Federal Government's plan to effectively overturn a High Court decision that boosted shareholder rights in corporate collapses.
The Government says it wants to amend the Corporations Act to reflect a long-standing convention that creditors are ranked higher than shareholders.
But Greens Leader Bob Brown is resisting the move, saying shareholders should not have a second-class role.
"It does sound like the Government's taking the case of business directors against the average Australian shareholder, and that's perilous ground," he said.
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