HOW TO AVOID THE PERFECT STORM.
A few years back I wrote about "the lead up to Christmas
can be a busy time in the insolvency industry" and how to
avoid a visit from the Christmas Liquidator. This article, pre
COVID-19, was in response to the Australian Securities and
Investments Commission (ASIC) past statistics showing that between
September to December has some of the highest levels of corporate
insolvency administrations.
Although insolvency numbers have been suppressed over the last
18 months—times are changing and a return to normal
insolvency numbers is expected. Over the next six months we will
start to see state and international borders open up, businesses
starting to resume their normal flow, government assistance
packages substantial reducing, and creditor pressure, including the
banks and the Australian Taxation Office (ATO), for outstanding
debts starting to bite.
