Why small business owners and Restructuring Practitioners must move quickly before 1 January 2021

Summary

Last week, as part of the Australian Government’s ongoing response to the pandemic-induced economic crisis, the Senate passed reforms to insolvency arrangements for small businesses with liabilities less than $1 million. From 1 January 2021, these businesses will be able to avail themselves of: A new debtor-in-possession, debt-restructuring process to improve the prospects of business […]