Australia
William Buck director takes leadership of Australia’s peak restructuring, insolvency and turnaround body

By William Buck on 18/06/21 - Mins to read: 2 minutes

William Buck is pleased to announce that Michael Brereton, Director, Restructuring and Insolvency, has been appointed as President of ARITA – Australian Restructuring Insolvency and Turnaround Association. ARITA, with over 2,300 members and subscribers, is the peak professional body representing professionals, including registered liquidators, who specialise in the fields of...
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With JobKeeper ending – what’s next for struggling businesses?

By William Buck on 18/06/21 - Mins to read: 2 minutes

A deluge of insolvencies is on the horizon with JobKeeper ending in a week, impacting on the cash flow of businesses and slashing the spending power of hundreds of thousands of Australians. Meanwhile, the Government has unveiled a $1.2 billion stimulus package aimed at increasing domestic tourism, which many won’t...
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ASIC bans send warning to directors

By William Buck on 18/06/21 - Mins to read: 2 minutes

The first few weeks of February 2021 saw the Australian Securities and Investments Commission (ASIC) disqualify three directors from managing companies, in decisions that highlight the need for directors to act diligently and assist liquidators. On 5 February, ASIC announced that it had disqualified Violetta Esposito for five years due...
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New process gives struggling business’s a chance at survival

By William Buck on 18/06/21 - Mins to read: 2 minutes

Reforms to Australia’s insolvency framework have now taken effect for eligible businesses with liabilities of less than $1 million. The new legislation, which shifts Australia’s corporate insolvency regime for small business from a largely creditor-led regime to a debtor-in-possession model, is expected to slow the anticipated wave of insolvencies in...
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Canberra announces huge reforms to insolvency laws – here’s what we expect

By William Buck on 18/06/21 - Mins to read: 2 minutes

Canberra has announced the most significant reforms to insolvency laws in decades, applicable for companies with debts below $1 million. While the finer details are yet to be confirmed, the proposal to introduce a debtor in possession model from 1 January 2021 which will be available to directors once every...
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