Insolvency reforms commenced 1 January 2021
These changes are intended to be more suitable than current processes for small businesses (with liabilities <$1 million) by reducing complexity, time and costs associated with the current processes to achieve better outcomes for creditors and employees.
AICM has been actively representing members in the expedited government consultation process enabling us to provide you with what you need to know about the reforms.
RESOURCES FOR CREDIT PROFESSIONALS
What credit professionals need to know
Leveraging our extensive network and submissions to government we have prepared a ready reckoner for credit professionals.
Additional Reading from our Partners
How to access extensions to temporary restructuring relief
Information about simplified liquidation
Information about entering Restructuring and the Restructuring Plan
Information about changes to the application and ongoing management requirements to be registered as a liquidator
AICM's submissions on the draft legislation and regulations
AICM Members, especially CCE's
The Australian Restructuring Insolvency and Turnaround Association (ARITA)
The Australian Chamber of Commerce and Industry (ACCI)
The Australian Finance Industry Association (AFIA)
The Australian Collectors and Debt Buyers Association
AICM National and Divisional Partners Click here to view
Credit, Insolvency and Legal Professionals
2020 Insolvency Risk Report
Our inaugural AICM Insolvency Risk report was released to members in May 2020.
Produced amid the most rapidly changing economic conditions imaginable, this report provides a valuable long term resource for the interpretation of emerging trends along with insights central to determining how these may impact your credit operation.
The report aims to provide a comprehensive and detailed overview of the underlying trends affecting credit and insolvency risk in Australia in 2020.
Drawing on the AICM’s extensive network of regulators, specialist industry bodies and key credit industry stakeholders, this report summarises data from relevant public and private sector sources, complemented by insights and deep knowledge from industry experts to provide an unsurpassed analysis in respect of:
- Historic insolvency trends
- Trends in the lead indicators of insolvency
- What these trends mean for you
The 2021 insolvency risk report will be released as part of our National Insolvency Seminars commencing in March 2021.