New insolvency arrangements address rigidities in system

“The insolvency measures announced by the Treasurer today are an important step in addressing the rigidities for businesses with relatively small levels of liabilities,” Innes Willox, Chief Executive of the national employer association Ai Group, said today.

“Australia’s current overly risk averse insolvency arrangements provide little scope for businesses to work with their creditors to restructure their operations to put the business on a sustainable footing. Many businesses that could work their way out of trouble face too many barriers and are prematurely wound up.

/Public Release. The material in this public release comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here.