To ensure Australians in financial difficulty are not made bankrupt over relatively small amounts of debt the Bankruptcy Threshold has been set at $10,000.
Insolvency Appointments Declined Significantly Despite COVID-19
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 »
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