Cyclone Trump is unsettling the world’s economic weather. Recession clouds are darkening. Insolvencies have already increased by 25 per cent since the pandemic. Australian companies will increasingly be buffeted and restructuring laws will be needed more often.

Right now, those laws too often favour putting viable businesses under. It’s time to adjust them so that they are more rehabilitative than punitive, more restorative than value destructive. Reforms in 2017 took us only part of the way.