It has been 33 years since the “recession we had to have” in 1991. Fears that Australia would enter a technical recession during 2023 didnt eventuate.
At the time of writing, our economy continues to still be resilient (relying on massive population growth through migration) despite ongoing decreasing consumer sentiment but another year of slow growth around the world in 2024 is predicted. Two G7 economies having dipped into recession at the end of 2023, along with New Zealand slipping into a second technical recession within 18 months.
Whether we enter a recession or not, more insolvency pain will come as insolvency numbers are tracking at pre-COVID levels year-on-year across all industries. High interest rates (which will probably sta…
Read the full article at: https://www.claytonutz.com/toolkits/from-red-to-black-2024/holistic-vs-piecemeal-the-state-of-review-of-australian-corporate-insolvency-laws
