Early action key to saving businesses through restructuring, experts say
Australian businesses are facing a wave of insolvencies, with court-ordered wind-ups surging 133% in the first half of the 2024 financial year.
Source: dynamicbusiness.com
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Construction businesses a grim standout in insolvency data
Nearly 1,400 construction businesses have collapsed so far this financial year, according to ASIC data, outpacing any other sector.
Source: smartcompany.com.au
ATO and banks take to the courts to claw back debts
Signs appear that directors are being pursued personally for historical company debts, says insolvency specialist
Source: dynamicbusiness.com
Restructuring gains popularity among SME owners
Small Business Restructuring plans are spiking as financially distressed small business owners increasingly turn to the SBR process to resolve their issues.
Source: dynamicbusiness.com
Small business needs a short-cut to survival or exit
A simplified regime for SMEs should be “low-hanging fruit” for the insolvency review, says John Winter of ARITA. Small businesses need a simplified way to wind up or restructure, says the chief
Source: accountantsdaily.com.au