In our last newsletter, Andrew wrote an article regarding the
likelihood of insolvencies growing and the level of enquiries
picking up generally for the insolvency and restructuring
industry.
Since that article, we have seen further evidence that the
insolvency tsunami is about to commence, with insolvency
appointments in England and Wales at 60-year highs. The Australian
Taxation Office coming out in recent days and announcing that they
are issuing approximately 30 to 40 direct penalty notices each day,
and a federal election that will see, irrespective of who leads the
country, a natural pick up in tax enforcement post-election.
Combined with all these recent observations, the almost perfect
storm of rising interest rates, increased cost of living, higher
fuel costs, supply chain issues, staff shortages and ongoing impact
from Covid around the health and well-being of the population. It
is hard to see how Australia will not follow suit as we have seen
in the
