In this section, Australian Company Liquidations provides the latest news and tips in business insolvency and liquidations.

COVID-19 Insolvency Relief ending on December 31st

COVID-19 Insolvency Relief ending on December 31st As suppliers and creditors, there is nothing more frustrating than chasing your customer for payment of goods or services you have provided in good faith and then receiving notification from an insolvency practitioner that they have been placed into Receivership, Voluntary Administration or Liquidation. The temporary COVID-19 relief measures announced by the Government on the 25th of March 2020 which were extended to 31st of December 2020 made the recovery of debts even

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Safe Harbour Provisions (Insolvent Trading) – What Directors Need To Know

Safe Harbour Provisions (Insolvent Trading) - What Directors Need To Know Background In response to the COVID-19 pandemic, the Federal Government announced a Safe Harbour amendment to the Corporations Act 2001 (Cth) (Corporations Act) to provide temporary relief measures for financially distressed businesses. Effective from 25 March 2020, the amendment protects directors from being personally liable for debts incurred during insolvent trading if the debt was incurred: a. in the ordinary course of the company’s business; b. during the six-month

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Safe Harbour Amendments – What Advisers Need To Know

Safe Harbour Provisions (insolvent trading) - What Advisers Need To Know Background In response to the COVID-19 pandemic, the Federal Government announced a Safe Harbour amendment to the Corporations Act 2001 (Cth) (Corporations Act) to provide temporary relief measures for financially distressed businesses. Effective from 25 March 2020, the amendment protects directors from being personally liable for debts incurred during insolvent trading if the debt was incurred: a. in the ordinary course of the company’s business; b. during the six-month

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