I first wrote about the impending insolvency deluge on July 7. Back then the commentariat was focused on Victoria’s fresh governmental induced second wave and how the end of JobKeeper was going to spell disaster for the Australian economy.
Ah, the good ol’ days.
In recent weeks, ‘zombie companies’ has become the economic buzzword equivalent of ‘genomic’ or ‘pivot’ or the ill-fated ‘we are all in this together’.
As anticipated, the temporary insolvency measures have not only insulated companies in COVID related distress, but they also insulated many companies which would’ve gone to the wall in any other year.
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