The Australian federal government, like many governments across the globe, has enacted temporary legislative changes to provide relief for businesses that have been impacted by the economic effects of the covid-19 pandemic. In order to facilitate continued business operations, the changes provide companies with breathing space to respond to demands from creditors for overdue debts and protect company directors from insolvent trading claims for debts incurred during the covid-19 period.
This relief took effect from 25 March 2020 and, as at the date of writing, will expire on 25 September 2020. In July 2020, the Australian government suggested that the measures should be extended beyond September 2020 with the Treasurer, Josh Frydenberg, …
Read the full article at: https://whoswholegal.com/features/australias-covid-19-temporary-relief-for-financially-distressed-companies–shielding-the-inevitable
