The simplified debt restructuring process was largely successful although the number of companies involved was small.
19 January 2023 8 minute read
ASIC has outlined its findings on all the small business restructuring practitioner appointments for the 18-month period to 30 June 2022 in the first assessment of the scheme.
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Its report (REP 756) also covers the small business restructuring (SBR) outcomes to 30 September 2022.
The SBR scheme was introduced on 1 January 2021 to create a simplified debt restructuring process for eligible s…
Read the full article at: https://www.accountantsdaily.com.au/business/18048-asic-reports-on-small-business-restructuring-scheme?_escaped_fragment_=/ccomment-comment=17879
The simplified debt restructuring process was largely successful although the number of companies involved was small.
ASIC has outlined its findings on all the small business restructuring practitioner appointments for the 18-month period to 30 June 2022 in the first assessment of the scheme.
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Its report (REP 756) also covers the small business restructuring (SBR) outcomes to 30 September 2022.
The SBR scheme was introduced on 1 January 2021 to create a simplified debt restructuring process for eligible small businesses and a new type of registered liquidator.
It was the first type of formal insolvency appointment which left the c…
Read the full article at: https://www.accountantsdaily.com.au/business/18048-asic-reports-on-small-business-restructuring-scheme