“Who’s making us bankrupt?” or “what are debtors doing about it?”
Financial Counselling Australia (FCA) has called for “urgent” reforms to Australia’s bankruptcy laws after releasing its report, “Who’s Making Australians Bankrupt? A follow-up report: six years on”. Following on its earlier report, it reveals that what it calls “forced bankruptcy” – ordered by the court – is concentrated among a small number of creditor types, “often […]
Who owns, and owes, what in a typical incorporated small business?
The regular insolvency statistics have been released by ASIC (corporate) and AFSA (personal), but with a current focus on insolvency reform for small business, we are now facing the reality of past and current inaction in have adequate data to direct meaningful reform. ASIC reports that, of 3,619,913 registered companies, 3,556 companies entered external administration […]