AG: Bankruptcy system options paper
8 March 2022
The ABA provides feedback to the Attorney-General’s Department on the Bankruptcy system options paper and encourages the Government to consider these changes in the context of the broad suite of reforms made or proposed in recent years that potentially change the consequences of insolvency for companies and bankruptcy for individuals. This includes small business insolvency reforms, changes to schemes of arrangement and the review of the safe harbour regime. The ABA also highlights the need for Government and policymakers to consider how these reforms may impact the flow of credit to small businesses and the effect of this on commercial activity with the aim of striking the right balance between creditors and debtors.
Download PDFImproving Schemes of Arrangement
22 September 2021
The ABA suggests that in finalising the proposal an updated analysis of the existing Scheme regime would be of benefit to consider current market practices which may have evolved since the Productivity Commission’s 2015 report ‘Business Set-up, Transfer and Closure’.
Download PDFThe bankruptcy system and the impacts of coronavirus
21 February 2021
The current economic circumstances have not changed the views that we expressed in response to the proposal to shorten the default period for bankruptcy that was contained in the Bankruptcy Amendment (Enterprise Incentives) Bill 2017.
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