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 […]