Thousands Of Defunct Businesses ‘simply Handing Back The Keys’ Accountants Daily Podcast Network podcast

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Thousands of defunct businesses ‘simply handing back the keys’

1+ y ago 31:14

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Innehåll tillhandahållet av Accountants Daily and Momentum Media. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Accountants Daily and Momentum Media eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

About 50,000 business owners a year are simply handing back the keys and walking away, says the chief executive of insolvency body ARITA, due to a “dysfunctional” wind-up system. John Winter of the Australian Restructuring, Insolvency and Turnaround Association said the issue was starting to appear on government radar because the numbers involved were four to five times higher than formal insolvencies.

“We think that there is a wholesale failure within the Australian insolvency regime,” Mr Winter said, speaking on the latest Accountants Daily podcast.

“Over many years it's become far too complex.”

“Typically, a business which is solvent and is being closed down should go through a members voluntary liquidation. If it’s insolvent, it's got to go through insolvency processes, but 40,000 to 50,000 businesses a year are not doing any of that.”

… continue reading

260 episoder

#Business #Accountants Daily #Momentum Media #MBA

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Thousands of defunct businesses ‘simply handing back the keys’

Accountants Daily Podcast Network

28 subscribers

published 1+ y ago

Dela

MP3•Episod hem

Innehåll tillhandahållet av Accountants Daily and Momentum Media. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Accountants Daily and Momentum Media eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

About 50,000 business owners a year are simply handing back the keys and walking away, says the chief executive of insolvency body ARITA, due to a “dysfunctional” wind-up system. John Winter of the Australian Restructuring, Insolvency and Turnaround Association said the issue was starting to appear on government radar because the numbers involved were four to five times higher than formal insolvencies.

“We think that there is a wholesale failure within the Australian insolvency regime,” Mr Winter said, speaking on the latest Accountants Daily podcast.

“Over many years it's become far too complex.”

“Typically, a business which is solvent and is being closed down should go through a members voluntary liquidation. If it’s insolvent, it's got to go through insolvency processes, but 40,000 to 50,000 businesses a year are not doing any of that.”

… continue reading

260 episoder

#Business #Accountants Daily #Momentum Media #MBA

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