Original article by Matthew Cranston
The Australian Financial Review – Page: 6 : 23-Mar-20
The federal government will make temporary changes to laws governing insolvent trading in response to the pandemic. Amongst other things, directors will be exempt from personal liability if a company is found to be trading while insolvent, while the threshold at which creditors can initiate bankruptcy proceedings against a company will be increased from $5,000 to $20,000. These measures will remain in place for at least six months.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY