The joint parliamentary committee on corporations and financial services recently handed down its report following an inquiry into corporate insolvency, which comes after campaigning from the Australian Restructuring, Insolvency and Turnaround Association (ARITA) for a review of insolvency law across the country.
The resulting report required an “inquiry into the effectiveness of Australia’s corporate insolvency laws in protecting and maximising value for the benefit of all interested parties and the economy” and has been welcomed by ARITA.
The report recommends that the government commission a “comprehensive and independent review of Australia’s insolvency law”, encompassing both corporate and personal insolvency….
