The Queensland government has started taking legal action to wind up companies unable to pay back loans intended to help them endure the pandemic.
A government spokesman said just over one per cent of loan recipients had entered into arrears since the end of the interest-only period.“Other recipients are ahead in their loan repayment schedule, while many others continue to make the relevant repayments on time.”But on the most recent assessment, $22,828,000 was deemed credit impaired, and another $26,724,000 high, very high or severe risk of impairment.
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