Hunter Business Chamber expects a “shaking out” of unviable companies after a suite of emergency protections ends on January 1. Many vulnerable businesses face the reversal of rules which have shielded directors from personal liability and allowed companies to trade while insolvent. The period for temporary debt protection for debtors will revert from six months to 21 days, and the minimum debt threshold required for creditors to apply for a bankruptcy notice will fall from $20,000 to $10,000. Businesses also face a drop in JobKeeper payments on Monday from $1200 to $1000 a fortnight for full-time employees and $750 to $650 a fortnight for part-timers. “The tide came in, and now it’s starting to go back out again,” chamber chief executi…
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