With CPA Australia, we supported the amendments proposed to embed the recent reforms for small business to restructure across relevant legislation. This included recognition of the new role of a restructuring practitioner.
In particular, we welcomed the clarification that registered liquidators that take an appointment as a restructuring practitioner are not required to hold an Australian credit licence. This has been an area of concern for our members as a restructuring practitioner to a company may provide advice around debt management as part of developing a restructuring plan.
Thank you to our members that provided input to inform this submission.
Insolvency and restructure
What role can a Chartered Accountant play in insolvency and restructure?