Australia’s corporate insolvency system is overly complex, costly and difficult to access and must be reviewed, the inquiry into corporate insolvency has found.
The government has been advised to commission a comprehensive and independent review of Australia’s insolvency law, encompassing both corporate and personal insolvency, following an inquiry into corporate insolvency.
The Parliamentary Joint Committee on Corporations and Financial Services inquiry into corporate insolvency handed down its report yesterday, making 28 recommendations in total.
The Committee found that Australia’s insolvency system has failed to keep pace with changes in the Australian and…