The Insolvency protections, which were in place since March 2020 (known as the ‘insolvency moratorium’) has now come to an end. Accordingly, those protections afforded by the Coronavirus Economic Response Package Omnibus 2020 (Cth), such as the increase in debt owing before a creditor could issue a statutory demand (from $2,000 to $20,000), the extension [...]
The Fair Work Commission recently made significant changes to the Miscellaneous Award 2020 (the Miscellaneous Award), which came into effect on 1 July 2020. It is important that all businesses review their current employment arrangements, to ensure that employees who were thought to be ‘non-award covered’ employees have not been caught in the wider net now cast [...]
The personal insolvency regulator, the Australian Financial Security Authority (AFSA) has recently issued a warning around dodgy insolvency providers. It is anticipated that there will be a wave of business failures when the temporary insolvency relief measures come to an end at the end of this year. It is therefore a major concern of AFSA [...]
Illegal Phoenix activity is when a new company is created to continue the business of an existing company that has deliberately liquidated to avoid paying outstanding debts, including creditors, taxes and employee entitlements. Throughout February to April 2020, the Treasury Laws Amendment (Combatting Illegal Phoenixing) Bill 2019 was passed by Federal Parliament and the relevant [...]
