The Corporations Amendment (Sons of Gwalia) Bill 2010 has been passed by both Houses of Parliament and is awaiting Royal Assent.

The Bill reverses the High Court decision in Sons of Gwalia v Margaretic by removing the right of persons bringing claims regarding shareholdings to:

•vote as creditors in a voluntary administration or a winding-up, unless they receive permission from the Court; or
•receive reports to creditors, unless they make a request in writing to the external administrator.