Category: Legal
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TMA Podcast: A New Safe Harbour Tips & tricks in the COVID-19 world
04-23-20
In this podcast, our guest speakers will take you through a guided discussion around recent changes to legislation and the marketplace in light of the COVID-19 crisis. Thanks to our guest speakers: Cameron Belyea (Clayton Utz), Rob Brauer (McGrathNicol), Ben Gibson (Gordon Brothers) and Chris Pearce (Blackwall Legal). View podcast – here
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Directors to get insolvent trading relief, but debt recovery toughened, under temporary COVID-19 measures (Clayton Utz)
04-02-20
Author, Cameron Belyea (Partner, Clayton Utz) TMA Australia Chair Directors will soon be free to make decisions to trade on even insolvent entities, and incur debts in the ordinary course of business, with the passing of the Coronavirus Economic Response Package Omnibus Act 2020 last night and Royal Assent today. The Act is intended to […]
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Considerations for directors and a test for existing insolvency laws (King & Wood Mallesons)
03-25-20
As part of its economic response to the COVID-19 pandemic, the Government passed a ‘temporary safe harbour’ insolvency measure[1]. It suspends, (for six months if not extended), the current ‘insolvent trading’ regime whereby directors can be personally liable for debts incurred by their company at a time it is insolvent.[2] This alert by King & […]
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Insolvency law changes are not a silver bullet (Hamilton Locke)
03-25-20
As part of the stimulus package to support and protect Australian businesses, the Federal Government has today announced a number of temporary changes to the Australian insolvency laws. Summary of proposed changes Outlined below is a summary of the proposed changes based on the limited details provided by the Department of Treasury to date: relief […]
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Law reform to enhance turnaround and restructuring
02-26-20
TMA supports a broad ranging review of our restructuring law regime – but that review should not turn only to Insolvency Practitioners and lawyers. Those at the heart of turnaround (our TMA membership) should be involved in a wholistic review. Diverse and expert insights from those at the coal face should inform that debate. Your […]