We have previously written about the Australian Federal Government’s proposed simplified small business restructuring process (SBRP) here and here.

The House of Representatives has passed the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 on 8 December 2020 after three readings, and it will now be debated in the Senate. As discussed in this article, the relevant Regulations have yet to be released but will be released soon.

How we can help

We have written an article on how the scheme could potentially work. If you wish to discuss the contents of any of the articles, or how the proposed SBRP can help your or your business, please contact us at our Brisbane or Gold Coast offices for an initial obligation-free consultation.

We, as registered liquidators, are qualified under the proposed SBRP to assist businesses. It is important to start the planning process before government measures end in the first quarter of 2021. There may even be other solutions for you or your business which we can help you explore.