Tag: Insolvency

AFSA has released new figures that point to key indicators on the number of Australians facing extreme financial hardship.

New CreditorWatch paper addresses how businesses can identify early warning signs to protect against insolvent customers

As Australian businesses face a new normal understanding insolvency and debt options is more important than ever.

The Treasury has identified a need to improve creditor schemes of arrangement to help viable businesses in financial distress restructure. Here’s how to have your say.

There are four key actions that small business owners should take immediately, to ensure they are well positioned once they, or their suppliers, come off JobKeeper this month.

“COVID Safe Harbour” insolvency rules have been replaced by legislation that includes a new, streamlined SME restructuring process…

One of Australia’s largest construction companies, Grocon, has gone into administration, leaving subcontractors at risk of unpaid contracts. Grocon is known for developments such as Melbourne’s casino, Eureka Tower and the Rialto Towers. Grocon’s chief executive, Daniel Grollo, blamed its administration on Infrastructure NSW for its handling of the Central Barangaroo project. “It is unfortunate […]

The Federal Government has announced new insolvency rules that will allow small businesses to stay afloat whilst restructuring debts. This new insolvency regime is proposed to start from 1 January 2021, following the lifting of temporary insolvency measures introduced in March 2020. Related: Government extends temporary insolvency and bankruptcy protections Incorporated businesses with liabilities less […]

Government measures to prop up zombie businesses through the pandemic could actually be harming Australian small businesses, with new data showing company wind-ups have all but ceased in the past quarter. Prushka Fast Debt Recovery revealed through data sourced from court records that the Australian Taxation Office and other government agencies, typically the largest source […]

Retailer falls into administration.