Insolvency Reforms to Support Small Business

Date uploaded:
12 Mar 2021

Brenton Devanny explains what has changed in insolvency law, how it has affected small business and what the package of reforms promise for small business in 2021.

This presentation includes a summary of changes to insolvent trading, statutory demands and bankruptcy notices, and generally the proposed debtor-in-possession restructuring regime and simplified liquidations.

From a small business perspective, this can provide opportunities for restructure as a debtor, but provide real risks to small businesses that find themselves unsecured creditors.