The Federal Government says it has commenced with the most important changes to Australias insolvency framework in 30years. From 1 January, eligible businesses experiencing financial distress can access a new, simplified debt restructuring process that allows them to restructure their existing debts while remaining in control of their business, the Government said in a statement.…
Last year was tricky for many. With the coronavirus pandemic causing havoc in mid-March, many were furloughed or lost their jobs. It might have resulted in a struggle to make ends meet and turn to credit as a result – or maybe extending the debt they were already in. Around three in 10 Britons have…
What I am presenting here is a plea, or proposing a new year resolution for bankers, fund managers, and politicians to take a new approach to mortgage arrears in Ireland. Back in October 2012, I broke from standard Civil Service practice in calling publicly for solutions that involve a much more dramatic write-off of debt…
The Morrison Government continues to implement its economic recovery plan with the commencement of the most important changes to Australias insolvency framework in 30 years. From today, eligible businesses experiencing financial distress can access a new, simplified debt restructuring process that allows them to restructure their existing debts while remaining in control of their business.…
Hunter Business Chamber expects a “shaking out” of unviable companies after a suite of emergency protections ends on January 1. Many vulnerable businesses face the reversal of rules which have shielded directors from personal liability and allowed companies to trade while insolvent. The period for temporary debt protection for debtors will revert from six months…