A grace period designed to save businesses from going under during the coronavirus pandemic is being extended until the end of the year. Temporary relief measures for businesses in financial distress were due to expire in less than 30 days. Treasurer Josh Frydenberg and Industrial Relations Minister Christian Porter confirmed the insolvency and bankruptcy protections will remain in place until December 31. They are also extending relief from company directors from any personal liability for trading while insolvent. “These changes will help to prevent a further wave of failures before businesses have had the opportunity to recover,” the pair said in a statement. “As the economy starts to recover, it will be critical that distressed busine…
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