Rules designed to save thousands of companies from going into administration during the coronavirus pandemic arelikelyto be extended.
The insolvencygraceperiodis set to expire in less than 30 days.
But as Australia suffers its worst economic contraction since the 1930s, plunging the country deep into recession, Treasurer Josh Frydenberg is rethinking the deadline.
They were temporary changes and we are considering anextensionof those arrangements, he told reporters in Canberra on Wednesday.
There are about 80 separate regulatory changes we put in place. Were looking at extending a number of these in light of the fact the COVID-19 recovery is still under way.
The corporate watchdog has been bracing for a large number of companies to go …
Read the full article at: https://insideretail.com.au/news/liquidation-grace-period-extension-likely-202009
