Permanent changes to the personal bankruptcy threshold - Ins

Permanent changes to the personal bankruptcy threshold - Insolvency/Bankruptcy/Re-structuring


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On 18 December 2020 the Commonwealth Government issued a media
release in relation to an increase to the minimum dollar threshold
for issuance of a Bankruptcy Notice.
As we have previously written the Commonwealth Government
increased the threshold debt that a creditor could issue a
Bankruptcy Notice for from $5,000 to $20,000 in response to
COVID-19 pandemic.
Those "protection measures" were scheduled to cease on
1 January 2021 and the threshold amount which a Bankruptcy Notice
could be issued was expected to revert to $5,000.
However, the Commonwealth Government has decided that the

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