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:
Authors:
Location:
Firm:
In brief
The Treasurer has today announced two new corporate insolvency regimes:
- a new "debtor in possession" restructuring plan process; and
- a new simplified liquidation process,
due to commence from 1 January 2021 and available to companies with liabilities of less than A$1m.
Restructuring Plan Process
The new restructuring plan process involves:
Filed under:
Authors:
Location:
Firm: