The current coronavirus pandemic has had a profound impact on businesses and employment across Australia. Understandably, with the unemployment rate at an all-time high and with business suffering huge declines in revenue, many may not be able to keep up with their financial obligations.
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We have previously discussed the Australian Federal Government’s proposal for a simplified small business restructuring process (SBRP). Key features and requirements were covered by the article. The House of Representative on 8 December 2020 passed the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 after three readings. It is now slated to be debated in the […]
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A new proposed liquidation process has been announced recently by the Australian Federal Government. The new streamlined liquidation procedure is intended to the reduce the cost of liquidation and hence maximise creditors’ return.
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