Temporary insolvency protections sensible as lockdowns continue
The Australian Small Business and Family Enterprise Ombudsman Bruce Billson has urged the Federal Government and regulators to consider the reactivation of temporary insolvency protections, to support small and family businesses doing it tough in lockdown.
Mr Billson says the re-introduction of measures, such as the extension to existing safe harbour provisions, would provide temporary additional protections for small and family businesses that may be trading insolvent due to lockdown trading restrictions.