Businesses struggling to keep on top of the incoming bills may be surprised to learn that it is not suppliers that are the most aggressive instigator of company wind up proceedings.
According to data compiled by Prushka Fast Debt Recovery, banks and other lenders also do not get a look in when it comes to the most petitions for insolvency.
Leading the charge on pursuing insolvency as a means of debt collection, says Prushka CEO Roger Mendelson, is the government.
Mr Mendelson says that 46 per cent of petitions to wind up companies between November 2016 and June 2017 came from the Australian Tax Office (ATO), and a further 19 per cent came from other government agencies.
The reason for the governments zealous approach to winding u…
Read the full article at: https://www.mybusiness.com.au/growth/3241-push-to-use-insolvency-to-recover-debts