11 September 2020
The Law Council of Australia has raised a number of concerns over the federal government’s announcement this week that it intends to extend temporary insolvency emergency measures, introduced as a result of the COVID-19 crisis, into 2021.
The joint announcement, made by the Treasurer and the Attorney-General, proposed extending the temporary increase in the threshold at which creditors can issue a statutory demand, extending temporary bankruptcy protections, and extending the temporary relief for directors from any personal liability for trading while insolvent.
Law Council of Australia President, Pauline Wright, noted the commendable rationale for the proposed extension of these measures was to lessen the threat of a…
Read the full article at: https://lawcouncil.au/media/media-releases/law-council-raises-concerns-about-government-s-extension-to-temporary-insolvency-emergency-measures