Governing through financial distress: Safe Harbour in action

This session offers practical insights for directors to protect themselves during uncertain conditions.

It will explain how safe harbour provisions work in conjunction with rapid decision making and governance standards to steer an organisation through financial difficulties while limiting personal liability. 

The Turnaround Management Association (TMA) experts and panel will cover:

• Governance disciplines that underpin safe harbour:
  • Board-approved, credible plans updated regularly
  • Transparent decision making and contemporaneous documentation
  • Clear accountability for financial oversight and compliance
• Real-time visibility over cashflow and defining a “better outcome” pathway
• Managing competing stakeholder interests while meeting compliance obligations
• How lapses in governance weaken safe harbour and increase personal exposure
• Broader personal risks during distress, including the impact of ATO Director Penalty Notices (DPNs)

While Turning the tide: Detect, decide, and deliver effective turnarounds focuses on recognising distress early and improving outcomes for the organisation, this session turns squarely to how directors can protect themselves while those turnaround efforts are underway.

Gain practical strategies to maintaingovernance standards and ensure safe harbour protection.