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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The Federal Government had recently announced a new small business restructuring process to help small insolvent companies avoid liquidation. The new restructuring process will allow for the cost effective restructuring of business and settlement of business debts with less interference from an external administrator.
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