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    You think you have a right to terminate a contract if the other side is insolvent? Maybe not after 1 July 2018
    2018-05-04

    From 1 July 2018, new restrictions will come into effect preventing parties from enforcing certain rights (including termination rights) triggered by insolvency events. The new laws seek to assist businesses undergoing financial distress to “maximise their chances of survival”, as termination of valuable contracts could potentially prevent such businesses from going through the necessary restructure in order to survive.

    Filed under:
    Australia, Capital Markets, Insolvency & Restructuring, Spruson & Ferguson
    Authors:
    Sylvie Tso
    Location:
    Australia
    Firm:
    Spruson & Ferguson
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