Small business restructuring is coming and it's good news for small business

9th October, 2020

Small business restructuring is coming and it's good news for small business. This week Treasury released draft legislation for public comment that describes a small business restructuring procedure. The draft legislation can be found at If passed by Parliament, the restructuring procedure will come into force on 1 January 2021. The intent of the legislation is to allow directors to remain in control of their company’s business whilst they put a deal to unsecured creditors to compromise company debts to enable a return to solvency.

Read more

Extension of insolvent trading laws to 31 December 2020 – Use the time wisely

10th September, 2020

The Government has given Australian businesses an opportunity to prepare themselves for the “new normal” of business conditions when the COVID restrictions ease. That opportunity is through the extension of the time for compliance with a creditor’s statutory demand notice and the effective suspension of the duty of company directors to prevent insolvent trading.

Read more

Planning for future success

8th July, 2020

The likelihood of a swift business turnaround occurring after the impacts of COVID-19 lifts is a matter that is hotly debated in the business press. We hear of V curves, U curves or even W curves; who really knows?

Read more
  Return to top