Restructuring and insolvency: preparing for, and going beyond, the insolvency cliff
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Covered in this webinar:
Banks and financial institutions – what lenders should do about funding requests and how to deal with borrowers who simply can't service their loans
Landlords, retailers and tenants – what the future will hold for lessors, lessees and anyone in retail (including insight from an administrator who ran a chain of stores during the pandemic) and what each should be doing moving forward
Business and employers – what you need to be doing and thinking about now on Safe Harbour, JobKeeper and industry risks
Aged care – an area hit by a perfect storm. Looking at restructuring options and how to deal with its unique challenges
This session was recorded on Wednesday, 16 September 2020
Core area: NSW/VIC/QLD Substantive Law and Professional Skills | WA Substantive Law CA4 and Professional Skills CA2. 1 hour – 1 CPD point.
We summarise the current (as at the week commencing 14 September 2020) stimuli and moratoria implemented by the Federal Government. This accompanies our webinar: Restructuring and insolvency - preparing for, and going beyond, the insolvency cliff, held on 16 September 2020.
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24/09/20 - Reforms announced by the Federal Government
The Federal Government today announced a package of reforms directed at streamlining insolvency processes for small business. They include:
a new debt restructuring process to give viable small businesses a better chance of survival;
a new, simplified liquidation process to reduce the cost and time of the winding up process where that is the only option for small business; and
a series of complementary measures, including use of technology and relaxing registration requirements for insolvency practitioners involved in small business restructuring and liquidations.
These reforms are due to commence on 1 January 2021 following expiry of the current COVID-19 insolvency relief measures on 31 December 2020.