The insolvency safe harbour

Wednesday, 01 January 2020

The following director tool contains suggested steps the AICD considers likely to be relevant when pursuing a restructuring plan and attempting to trigger the safe harbour protection from civil liability for insolvent trading provided in s 588GA(1) of the Corporations Act 2001 (Cth) (Corporations Act).

Please note that these steps are intended by the AICD to be a helpful guide only and should not be read or interpreted as an exhaustive list of factors which will need to be considered by directors in attempting to use the safe harbour protections, or as a supplement for legal advice. In the event of a company being in financial distress, directors should obtain legal advice from an appropriately qualified legal practitioner.

Downlaod the tool to read more.

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