Submission: Improving schemes of arrangement to better support businesses
Yesterday The Treasury opened consultation on improving schemes of arrangement to better support businesses. This follows from the Government's earlier announcement to consult on improvements to schemes and administration of insolvent trusts.
The Government is seeking stakeholder views on the appropriateness and impact of applying an automatic moratorium on creditor claims during formation of a creditors’ scheme. Currently, no automatic moratorium is applied. Input is also sought on whether other improvements to schemes of arrangement could be made.
ARITA will be making a submission and will consult with members regarding the position taken and whether other improvements to schemes of arrangement could be made.
Submissions close on 10 September 2021.
Read the consultation paper