Overview

There has been a growing appetite for corporate insolvency law reform in Australia in the last 18 months. In 2021, public consultations were completed on improvements to creditors schemes of arrangement and the treatment of insolvent trusts, and there was an independent review of the laws providing directors with a safe harbour from insolvent trading liability.

In March 2022, the Government announced it would make unfair preference claims simpler and fairer so that transactions amounting to less than AUD$30,000 or that occur more than three months prior to a company entering external administration will no longer be able to be clawed back.

On 28 September 2…

Read the full article at: https://www.nortonrosefulbright.com/en-br/knowledge/publications/8037df49/australian-corporate-insolvency-reform-what-can-we-expect-in-2023