In the Davies Collison Cave Legal Update webinar on 16 July 2020, we discussed the temporary changes to Australian insolvency laws that had been introduced in response to the COVID-19 pandemic. These changes, enacted under the Coronavirus Economic Response Package Omnibus Act 2020 (Cth) (Act), affected provisions of the Corporations Act 2001 (Cth) relating to:

1. insolvent trading where debts had been incurred in the ordinary course of the company’s business; and
2. the statutory demand regime.

Broadly, the temporary changes: