Topic: Insolvency

Insolvency laws are very strict in Australia, meaning companies and directors need to understand their financial position

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Have you benefited from insolvency safe harbour?

6 September 2021 | Simon Mitchell

The government has announced the appointment of a panel to conduct a three-month review of the insolvent trading safe harbour. The review will examine whether the safe harbour is achieving its objecti...

Avoid the pitfalls that could lead to insolvency

9 June 2021 | Gavin McCosker

Despite its economic toll, COVID-19 has not yet led to an uptick in insolvent companies entering external administration or individuals declaring bankruptcy. In fact, the reverse is true. However, wit...

Directors slow to file for small business insolvency under latest reforms

19 April 2021 | Andrew Fielding

The take up of restructuring reforms for small businesses, provided by legislation enacted on 1 January 2021, has been slow – but this may change now that JobKeeper assistance has come to an end...

New insolvency law reforms for SMEs

1 February 2021 | Zilla Efrat

An overhaul of Australia’s insolvency framework is a lifeline for small businesses struggling to survive the economic impact of COVID-19. Here's what directors need to know.

Insolvency

What SME directors need to know about new insolvency reforms

30 October 2020 | Christie McGrath

AICD senior policy adviser Christie McGrath outlines new measures to help small businesses navigate insolvency and temporary safe harbour relief.

Making the hard decisions when confronting insolvency

1 September 2020

From selling assets to appointing an administrator, Michael Sloan and Gayle Dickerson, directors of Turnaround Management Association, share key decision points for directors.

Insolvency

When is the right time for distressed companies to restructure?

1 August 2020 | Zilla Efrat

Corporate insolvency expert Stephen Parbery shares vital insights for directors confronting the rising insolvency risks.

Insolvency

3 insolvency stages to watch for

1 July 2020 | Zilla Efrat, Narelle Hooper MAICD

With more SMEs and NFPs under financial stress, directors must be alert to the signs of insolvency.

Insolvency

Assessing going concern for financial statements

1 July 2020 | David McElrea

Directors must be confident their enterprise can continue operating into the foreseeable future when preparing to sign off financial statements.

Letter to ACNC re. insolvent trading relief

4 June 2020

On 21 May, the AICD sent a letter to the ACNC Commissioner noting our concern with the ACNC’s requirement that a charity which is trading while insolvent is still required to notify its members and th...

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