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Law firm Taylor David is cautioning that Australians will soon experience widespread personal and business insolvencies in greater numbers than encountered during the 2008 Global Financial Crisis (GFC).
The finance law specialist claimed the number of companies facing financial headwinds was widespread across all sectors due to surging interest rate rises, cost-of-living pressures and the aftermath of COVID-19.
The press release also highlighted an increase in personal insolvencies, with research from the Australian Financial Security Authority (AFSA) revealing that during January 2023, there were 772 new formal personal insolvencies, up from the 612 recorded in December 20…
Read the full article at: https://themarketherald.com.au/law-firm-taylor-david-warns-of-impending-wave-of-insolvencies-in-2023-2023-03-22/