Business
Owners to retain control of businesses in financial distress under Coalition pandemic plan – The Guardian
The government is proposing a ‘debtor in possession’ model that will leave the owner in charge rather than an administrator
Small businesses in financial distress due to the Covid recession but still considered viable could be left in the hands of their owners rather than placed into administration under a new debt restructuring process to be unveiled by the Morrison government.
The Coalition will introduce the new process for incorporated businesses with liabilities of less than $1m as part of an overhaul of the insolvency framework intended to ensure more businesses survive the economic shock of the pandemic.
The…
-
Noosa News21 hours agoCommissioner thanks police officer who threw a speed radar at a car
-
Noosa News20 hours agoDefence investigation finds Taipan pilot’s actions possibly prevented further fatalities in crash
-
Noosa News19 hours agoNo matter what happens in his Origin debut, history beckons for rookie maroon Robert Toia
-
General18 hours agoDairy farmers devastated by floods across parts of New South Wales