Australia: New Small Business Insolvency Reforms - How Statutory Demands will change from 1 January 2021

 

In brief

The new small business insolvency reforms enacted by the Corporations Amendment (Corporate Insolvency Reforms) Act 2020 (Cth) (Corporations Amendment Act) - which inserts a new Part 5.3B into the Corporations Act 2001 (Cth) (Corporations Act) - are due to come into effect on 1 January 2021.

Filed under:
Australia, Capital Markets, Insolvency & Restructuring, Baker McKenzie, Coronavirus
Authors:
Peter Lucarelli , Ian Innes , Jessica Arscott , Aleksandra Pasternacki , Charlotte Butcher
Location:
Australia
Firm:
Baker McKenzie
Updated: New "debtor in possession" corporate insolvency regime to commence from 1 January 2021

 

We update our earlier client alert with a version including additional details that are available.

In brief

On 24 September 2020, the Treasurer announced that the Australian Government would introduce new legislation to give effect to:

Filed under:
Australia, Capital Markets, Insolvency & Restructuring, Baker McKenzie, Coronavirus
Authors:
Peter Lucarelli , Ian Innes , Heather Sandell , Nikki Mourginos , Jessica Arscott , Sefton Powrie , Aleksandra Pasternacki
Location:
Australia
Firm:
Baker McKenzie
Updated: New "debtor in possession" corporate insolvency regime to commence from 1 January 2021

 

We update our earlier client alert with a version including additional details that are available.

In brief

On 24 September 2020, the Treasurer announced that the Australian Government would introduce new legislation to give effect to:

Filed under:
Australia, Capital Markets, Insolvency & Restructuring, Baker McKenzie, Coronavirus
Authors:
Maria O'Brien , Peter Lucarelli , Ian Innes , Jessica Arscott , Viren Raja , Cal Diolúin , Aleksandra Pasternacki
Location:
Australia
Firm:
Baker McKenzie