Small businesses and their financial difficulties – the Ombudsman’s inquiry

A discussion paper[1] issued on 20 December from the Insolvency Practices Inquiry of the Australian Small Business and Family Enterprise Ombudsman examines the financial difficulties of small business and the impact of an insolvency administration on them. Feedback is sought on what would be a ‘best practice framework’ for both small businesses moving towards insolvency […]

Small business insolvency – the Ombudsman inquiry

The Australian Small Business and Family Enterprise Ombudsman has established an inquiry into “the insolvency system” to report by February 2020, focusing on practitioners, lawyers, financiers and others. It is interesting that this government inquiry is not looking at the responsibility of government itself in maintaining the insolvency system.  This commentary is based upon my account […]

Hayne Report – banks and receivers and agricultural enterprises

The Hayne Royal Commission declined to examine the conduct of receivers appointed by banks, in particular over agricultural enterprises. Nevertheless, comments and recommendations in the Final Report[1] (Report) address concerns about how banks have handled non-financial farming enterprises. National farm debt mediation The Report for one thing recommends a national farm debt mediation scheme, which […]