Approached by The Australian Financial Review to comment, Mr Porter said: “The government is considering Australias personal insolvency settings to make sure they best support our economic recovery from the impacts of COVID-19, including considering the default bankruptcy period.
“The nature of the personal insolvency system, and the bankruptcy default period, is that it necessarily requires balancing the interests of debtors and creditors, and the governments focus will be on ensuring the right balance is struck, especially in helping businesses and individuals deal with the impacts of COVID-19.”
‘Punitive’ by international standards
Australian Restructuring Insolvency and Turnaround Association chief executive John Winter said the t…
Read the full article at: https://www.afr.com/policy/economy/bankruptcy-reform-to-lift-economic-recovery-20201113-p56ebh
