Temporary amendments to Australian Insolvency and Corporations Law

The Coronavirus Economic Package Omnibus Act 2020 (Cth) took effect on 25 March 2020. It makes temporary amendments to Australian Insolvency and Corporations Law that are intended to provide a safety net to otherwise profitable and viable businesses which face financial distress as a result of the economic impact of coronavirus and health measures to prevent its spread.

Included:

  • Statutory Demands
  • Individuals – Bankruptcy
  • Relief from Insolvent Trading

Read our general comments of these ammendments in Hall Chadwick’s In Focus April 2020