Several of these factors contributed to the rising levels of formal insolvency appointments and distressed asset sales seen over the past year, which is likely to continue into 2024.
In this article, we look back at, and think forward to, the trends and legal developments which businesses, insolvency professionals, accountants and investors need to be aware of as 2024 gets underway.
Key trends
Formal insolvencies
The general downturn in aspects of the Australian and global economy led to a heightened focus on financial stability and risk management within Australian businesses. Many businesses have encountered significant adverse fluctuations in aged debtor payments, with some debtors delaying payments, making partial…
