Insolvency reforms commence on 1 January 2021
Reforms to corporate insolvency laws commence on 1 January 2021 for companies with liabilities less than $1 million. These reforms include:
-a new debt restructuring process for incorporated businesses
-a new, simplified liquidation pathway for small businesses, and
-a new class of registered liquidator who can only undertake the debt restructuring process.
The Government has introduced new laws that change the way ASIC is funded. Regulated entities will receive an invoice for ASIC’s regulatory services delivered in the prior year. Find out what this means for registered liquidators.
Sign up for:
View insolvency and deregistration notices on the published notices website.