Government flags further insolvency reforms – AccountantsDaily

Bankruptcy

Business Small businesses that operate through a trust will now be considered for further protection, as the government mulls further insolvency reforms as part of the federal budget. Business Jotham Lian 04 May 2021 1 minute read object(stdClass)#17579 (8) { [“image_intro”]=> string(64) “images/articleimages-391×261/850×492/Josh-Frydenberg-new2-ad.jpg” [“float_intro”]=> string(0) “” [“image_intro_alt”]=> string(43) “Government flags further insolvency reforms” [“image_intro_caption”]=> string(0)…

Insolvency reforms would benefit from US-style bankruptcy options – The Australian Financial Review

Bankruptcy

This would protect a company from claims being brought while its pursuing a scheme, Ashurst insolvency partner Alinta Kemeny said. US Chapter 11 Ms Kemeny said the current schemes of arrangement framework already allowed for a debtor-in-possession model, but a costly court-driven process meant it was primarily used only by large corporations. The Ashurst partner,…

Further insolvency reforms to support business dynamism – Mirage News

Bankruptcy

Australian Treasury As part of our economic recovery plan, the Morrison Government is pursuing further measures to improve Australias insolvency framework for both small and large businesses. In the 2020-21 Budget, the Government announced the most significant reform to Australias insolvency framework in 30 years. These reforms, which came into effect on 1 January 2021,…

Methodology and Quality Document – Company Insolvency Statistics January to March 2021 – GOV.UK

Bankruptcy

The United Kingdom Statistics Authority has designated these statistics as National Statistics, in accordance with the Statistics and Registration Service Act 2007 and signifying compliance with the Code of Practice for Official Statistics. Designation can be broadly interpreted to mean that the statistics: meet identified user needs; are well explained and readily accessible; are produced…