High level of business bankruptcies in construction and retail
Latest figures show that nearly 60% of personal bankruptcies in the construction industry were involved in a business, with those in retail businesses comprising around 50% in their sector. Business bankruptcies totalled around 40% of all bankruptcies. Fortnightly bankruptcy and personal insolvency statistics | Australian Financial Security Authority (afsa.gov.au) Small business Persons operating their own businesses […]
An insolvency law reform inquiry? first things first….
The prospect of an inquiry into insolvency law was raised in a recent speech by the chair of the Australian Law Reform Commission, Justice Sarah Derrington. She noted that it has been over 30 years since the last inquiry, ALRC 45, the Harmer Report, of 1988.[1] We likewise think a new insolvency law inquiry is […]
