Overly complex, difficult to access and creating unnecessary cost and confusion for debtors and creditors 4 min read
On 12 July 2023, the Federal Government’s Parliamentary Joint Committee on Corporations and Financial Services (Committee) released its report into corporate insolvency in Australia (Report). The Report concluded that Australia’s corporate insolvency system is too complex, hard to access and unnecessarily costly.
Key takeaways
- The Report is the first major review of the corporate insolvency regime since the Harmer Report in 1988.
- In total, 28 recommendations were made, including the commission of an independent review of corporate and personal insolvency law.
- The Committee concluded that Australias corporate insolve…
Read the full article at: https://www.allens.com.au/insights-news/insights/2023/07/Australias-corporate-insolvency-regime/