The Australian Securities and Investments Commission and the Australian Financial Security Authority recently released the statistics for insolvency appointments across Australia.
House of Representative Passes Proposed Small Business Restructuring Legislation
The Australian Federal Government is proposing a simplified small business restructuring process (SBRP). We have covered the key features of the proposal here: The Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 passed the House of Representatives on 8 December 2020 after three readings. It will now be debated in the Senate, and it is set… Read more »
What to Do When Mortgage Repayment Deferrals End
It is clear that many people deferring loan repayments are not in a position to continue with mortgage repayments when the deferral period ends.
So, what can you do if you worry that you may not be able to continue with mortgage repayments?
Queensland COVID-19 Rent Relief Measures Extended
The Queensland Government has extended its rent relief measures to 31 December 2020, but there are new provisions of the Regulations.
Extension of Insolvency Relief Measures
The government has recently extended the JobKeeper program to March 2021, albeit in reduced sums. Other measures have also been extended to 31 December.
Insolvency Law Reforms – Small Business Restructuring
The Australian Federal Government has recently announced reforms to the current insolvency regime. One of the proposed reforms is aimed at simplifying the restructuring process for eligible small businesses.
‘Zombie Companies’ Kept Alive By COVID-19 Stimulus
There are signs hat the stimulus measures introduced during COVID19, might be keeping businesses which would otherwise have folded, alive.
Success Story: Settling a Mortgage Shortfall Debt with a Mortgage Insurer
Often when people take out a mortgage, their bank asks them to obtain mortgage insurance. But this doesn’t protect the borrower, it protects the bank. When a property is sold and there is a mortgage shortfall, the bank claims on the insurance policy and the insurer then chases the borrower for the mortgage shortfall debt.
Success Story: How a Growing Business Avoided Liquidation with an ATO Payment Arrangement
Our success story tells of a client we helped negotiate an ATO Payment Arrangement for, in order for them to avoid liquidation.
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