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The Federal Government has announced proposed further changes to Australia’s insolvency laws. These changes will add to the multitude of legislation changes introduced over the previous year which have been discussed in our earlier articles.   https://nswcreditlaw.com.au/2021/01/25/bankruptcy-law-temporary-debt-relief-measures-ended-on-1-january-2021/ https://nswcreditlaw.com.au/2021/01/25/insolvency-law-changes-to-statutory-demands-from-1-january-2021/ A significant change for creditors chasing debts from corporate entities is a permanent increase in the threshold at which creditors can issue a statutory demand. The threshold will increase from $2,000 to $4,000. Confirmation of the date from which this increase will apply is still to be announced.     With a view to “further simplifying and streamlining insolvency law”, the Federal Government will also: • consult on the treatment

3 May 2021 Joint media release with The Hon Michael Sukkar MP Assistant Treasurer Minister for Housing Minister for Homelessness, Social and Community Housing As part of our economic recovery plan, the Morrison Government is pursuing further measures to improve Australia’s insolvency framework for both small and large businesses. In the 2020–21 Budget, the Government announced the most significant reform to Australia’s insolvency framework in 30 years. These reforms, which came into effect on 1 January 2021, created a new simplified restructuring and liquidation process for small companies and have given directors the control and flexibility they need to either restructure or wind down operations. As a result