Australian Government takes swift legislative action to assist companies facing insolvency risks due to COVID-19

The Australian Government has taken swift action to enact new legislation which significantly changes the insolvency laws relevant to all business as a result of the ongoing COVID-19 related developments. Snapshot Temporary relief from insolvent trading and associated personal liabilities for directors seeking to navigate a path to financial viability and recovery for their companies, amid significant and rapidly changing economic and trading challenges. Statutory demands from today onwards must be for more than AUD$20,000.… Continue Reading