Explainer: What happens to my shares when a company goes bust? – Stockhead

Link copied toclipboard *The story has been updated with corrected details about the Gascoyne Resources recapitalisation process This week, debt-laden lithium producer Altura Mining (ASX:AJM) went into voluntary administration. When it comes to recovering any money, Alturas shareholders are at the bottom of the heap. Secured creditors, like banks, are at the top. The key…

Coronavirus relief helps Tasmanians pay down debt, personal insolvencies lowest in 30 years – ABC News

Fewer Tasmanians have become insolvent and more have been paying down debts during the pandemic period, as government support measures temporarily put more money into the pockets of some people. Key points: New Tasmanian personal insolvencies were at a 30-year low for the last financial year A debt collection business is seeing more Tasmanians able…

Understanding the New Small Business Reorganization Act – Blog – ABL Advisor

With COVID-19 and the differing attempts by state and local government to contain its spread by various regulations, smaller companies in almost every industry have been negatively affected by state regulations. As a result, some companies impacted by these COVID-19 regulations may find themselves on the brink of insolvency. Until recently, there have been two…