kagara creditors in the dark

interesting article in today's smh

http://www.smh.com.au/business/kagara-creditors-in-the-dark-20130609-2ny3d.html

an excerpt:

Effectively, creditors' money has been spent on curtailing disclosure to creditors themselves. Insolvency people may contend that the burden of disclosure is merely another cost to creditors which should be eliminated. Hence the exemptions. That might be a fair call, if creditors could trust administrators to act in their best interests; disclose all related party transactions and not drag out the process in a fee-fest. They can't.