ASIC today published a report on small business restructurings for the period 1 January 2021 to 30 June 2022 (review period).
The report (REP 756) outlines the findings from ASICs review of the ASIC company register and ASIC lodgements data for all 82 small business restructuring practitioner appointments which commenced in the review period, and the outcomes of those restructurings to 30 September 2022.
This is ASICs first report since reforms were introduced on 1 January 2021 to create a new simplified debt restructuring process for eligible small businesses and a new type of registered liquidator. Importantly, the new small business restructuring was the first type of formal insolvency appointment which left the control of the inso…
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