Latest Banco News

15-Jun-2016

Farid Assaf leads the call for dire reform to Australia’s insolvency regime

Farid Assaf leads the call for dire reform to Australia’s insolvency regime

Farid Assaf, who was recently appointed a fellow of the prestigious London based INSOL International, graduating first in his class, has led the call for long overdue reform to Australia’s insolvency regime. He instead proposes a regime similar to one in the US which encourages distressed companies to restructure rather than liquidate. 
Farid argues that in order to avoid the worst case scenario of liquidation more should be done to encourage a true restructuring culture within Australia supported by legislation. Given the lawyer-intensive nature of the restructuring regime, Farid asserts that lawyers “can add value to businesses and the community by helping businesses and insolvency practitioners navigate through the myriad of legislation… making sure clients are acting in accordance with the law…and acting as efficiently as possible.”


Click on the link below to read more in the Lawyer’s Weekly 
http://www.lawyersweekly.com.au/news/18737-insolvency-reform-ignites-debate-among-lawyers