•   
  •   

Australia EXCLUSIVE: Government to extend job-saving insolvency moratorium

08:16  05 august  2020
08:16  05 august  2020 Source:   skynews.com.au

Climate: what measures are on the menu of the Ecological Defense Council?

 Climate: what measures are on the menu of the Ecological Defense Council? The government announced Monday the first "regulatory" measures inspired by the proposals of 150 citizens at the end of the Ecological Defense Council chaired by Emmanuel Macron.

But the Japanese government , and to some extent private industry, have taken other steps aimed While there have been no changes to insolvency laws in China, the authorities have issued new But the government in Berlin has said it may extend the suspension by statutory instrument until March

But the Japanese government , and to some extent private industry, have taken other steps aimed at mitigating the pandemic-related hardships. Moreover, several insurance companies have granted extension on payment of premiums for up to six months, while some banks have offered their clients

EXCLUSIVE: Government to extend job-saving insolvency moratorium
  EXCLUSIVE: Government to extend job-saving insolvency moratorium Sky News Australia See more videos
What to watch next
  • Australia to join US in South China Sea

    Australia to join US in South China Sea

    AAP Logo
    AAP
  • Grave concern over virus hitting aged care homes

    Grave concern over virus hitting aged care homes

    AAP Logo
    AAP
  • Australia to join US in South China Sea Australia to join US in South China Sea Australia is set to join the United States in military exercises through the South China Sea after branding Beijing's maritime claims to the disputed waters unlawful. (AAP Video) AAP Logo AAP
  • Grave concern over virus hitting aged care homes Grave concern over virus hitting aged care homes More coronavirus deaths of aged care residents are expected in Victoria, as the state’s troubling infection rates continue to spike. (AAP Video) AAP Logo AAP

The federal government will extend the moratorium on director liability for insolvent trading, which will stop hundreds of companies going under and jobs being lost.

WA rental shortage leaves hopeful tenants desperate as coronavirus pandemic bites market

  WA rental shortage leaves hopeful tenants desperate as coronavirus pandemic bites market Rental listings in Perth are down almost 50 per cent on last year — and that, combined with growing demand from those returning to the city due to COVID-19, is leaving tenants increasingly desperate.The 32-year-old proud Noongar-Yamatji woman has been couch surfing while she looks for her own home, but says time is running out.

In an exclusive interview with Moneycontrol, Hemant Kanoria, Chairman, Srei Infrastructure Finance Government should honour the arbitration awards and instead of further litigation, release the As NBFCs were asked to offer moratorium to their borrowers it was only fair that they should have also

Around 30 state moratoriums have expired since May, according to The Eviction Lab at Princeton University. On top of that, some tenants were already encountering illegal evictions even with the moratoriums . Now, tenants are crowding courtrooms — or appearing virtually — to detail how the

Sky News Political Editor Andrew Clennell said several companies would be plunged into bankruptcy if the policy ended.

"The move will come after the situation in Victoria has shown that we are facing an insolvency cliff," he said.

"The package also includes temporary relief for directors from any personal liability for trading while insolvent. "

Treasurer Josh Frydenberg introduced the measure on March 25, announcing for six months the government will temporarily increase the threshold which creditors can issue a statutory demand on a company and the time companies have to respond to those demands.

a man wearing a suit and tie © Provided by Sky News Australia

The package also includes temporary relief for directors from any personal liability for trading while insolvent.

The Corporations Act 2001 was then amended to provide what was described as “temporary and targeted relief for companies to deal with unforeseen events that arise as a result of the Coronavirus”.

In July, The Australian Institute of Company Directors called for the insolvent trading measure to be extended until the end of this year.

At the time, the AICD said that dropping personal liability had helped 12 per cent of its members decide to trade through the crisis, rising to 16 per cent among directors in small and medium enterprises.

This move should save a lot of companies and jobs, at least temporarily.

Retail sales rise despite fewer High Street visits .
Sales grew again in July, but some retailers are 'hanging by a thread', the industry body says.They show the number of visits to High Streets is still down significantly as people shop online instead.

—   Share news in the SOC. Networks
usr: 25
This is interesting!