THE PAST DECADE or so has seen significant insolvency law reform in many jurisdictions. This column has previously examined related issues, including the difference between corporate insolvency and personal bankruptcy (see China Business Law Journal, volume 4, issue 10: Bankrupt or insolvent?) and cross-border insolvency law (see China Business Law Journal, volume 8, issue 8: Cross-border insolvency).
In 2016, India enacted the Insolvency and Bankruptcy Code, intended to support corporate debt restructuring and create greater efficiencies.
In 2020, the UK introduced significant legal reforms, including the availability of a moratorium to enable directors to stay in control of the business while exploring debt restructuring options.
In 20…
Read the full article at: https://law.asia/australia-insolvency-law-reform/