‘More harm than good’: Businesses get reprieve but thousands still set to fail – Brisbane Times

CreditorWatch chief executive Patrick Coghlan said Victoria would be “even worse off” following Premier Daniel Andrews’ announcement on Sunday of a longer lockdown. “It would’ve been extremely difficult and unpopular not to extend [insolvency safe harbour] but there was no choice from a political point of view in Victoria,” Mr Coghlan said. He said the…

Insolvency and bankruptcy protections extended for struggling SMEs – SmartCompany.com.au

Treasurer Josh Frydenberg. Source: AAP/Daniel Pockett. The Morrison government has extended temporary bankruptcy protections that save small business owners from personal liability for trading while insolvent during the COVID-19 pandemic. Initially announced in late-March, the insolvency and bankruptcy protections were slated to expire later this month, but will now last until December 31. These relief…

Extended insolvency protections a relief for small businesses – Mirage News

The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has welcomed the federal governments extension of temporary insolvency and bankruptcy protections, to support struggling small businesses impacted by the COVID crisis. Regulations reducing the threat of creditors taking action against a small businesses impacted by trading restrictions have now been extended to 31 December…

Business insolvency and bankruptcy protections extended until the end of 2020 – Business News Australia

Temporary insolvency and bankruptcy protections to assist financially distressed Australian businesses during the COVID-19 pandemic have been extended until 31 December 2020. The Federal Government will introduce regulations to extend the temporary increase in the threshold at which creditors can issue a statutory demand on a company, as well as the time companies have to…

Business liquidation grace period extended – Warrnambool Standard

A grace period designed to save businesses from going under during the coronavirus pandemic is being extended until the end of the year. Temporary relief measures for businesses in financial distress were due to expire in less than 30 days. Treasurer Josh Frydenberg and Industrial Relations Minister Christian Porter confirmed the insolvency and bankruptcy protections…