Government warned against piecemeal approach for insolvency reforms – SmartCompany.com.au

Australian Treasurer Josh Frydenberg arrives to speak to the media during a press conference at Parliament House in Canberra. Source: AAP/Lukas Coch. Insolvency practitioners have welcomed a federal government commitment to consult on further reforms for the industry, but say more piecemeal changes to Australias insolvency regimes could create even more complexity for business owners.…

Government flags further insolvency reforms – AccountantsDaily

Business Small businesses that operate through a trust will now be considered for further protection, as the government mulls further insolvency reforms as part of the federal budget. Business Jotham Lian 04 May 2021 1 minute read object(stdClass)#17579 (8) { [“image_intro”]=> string(64) “images/articleimages-391×261/850×492/Josh-Frydenberg-new2-ad.jpg” [“float_intro”]=> string(0) “” [“image_intro_alt”]=> string(43) “Government flags further insolvency reforms” [“image_intro_caption”]=> string(0)…

Insolvency reforms would benefit from US-style bankruptcy options – The Australian Financial Review

This would protect a company from claims being brought while its pursuing a scheme, Ashurst insolvency partner Alinta Kemeny said. US Chapter 11 Ms Kemeny said the current schemes of arrangement framework already allowed for a debtor-in-possession model, but a costly court-driven process meant it was primarily used only by large corporations. The Ashurst partner,…