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ARTICLE · 16 DECEMBER 2020

Insolvent trading tips for directors

Bartier Perry Solicitors
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Guidance to directors regarding insolvency reforms.

AustraliaInsolvency/Bankruptcy/Re-Structuring
Gavin Stuart
Gavin Stuart
Emma Boyce
Emma Boyce
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This year has been nothing short of a puzzle. It feels like each month, or each day in some areas of law, a new piece is revealed and slowly we have been completing the puzzle and seeing the full picture of the post-COVID-19 world.

This is particularly the case for the insolvency area.

With the temporary measures that were introduced to help reduce the financial pressure on businesses and the temporary relief against personal liability for directors likely coming to an end on 31 December 2020, and a new regime modifying small business restructures and insolvencies commencing on 1 January 2021, it is important that directors take the time now to consider the position of their companies, their own potential exposure, and put measures in place to manage any identified risks.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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