SAFE HARBOUR
Safe harbour legislation was designed to encourage companies in legitimate financial difficulty to undertake a restructure whilst providing protection for their directors from the risk of insolvent trading
The prohibition against insolvent trading (and associated compensation mechanisms) is subject to an important exception known as Safe Harbour: Corporations Act 2001 (Cth) section 588GA. Safe Harbour is technically not a defence. Legitimate Safe Harbour provides a shield against a potential liability to pay compensation to creditors who suffer loss in a liquidation scenario.
Ginette Muller Safe Harbour Video Series
Implementing Safe Harbour
The basics for a director concerned that the company may become insolvent at some stage and they do not want to be personally liable for Insolvent Trading.
How Safe Harbour Protects
Directors who understand the risks of corporate failure may seek Safe Harbour in times of uncertainty.
Ginette Interviews Liquidator & Insolvency Lawyer
Safe Harbour Basics
What is Safe Harbour and how do you get protection against Insolvent Trading?
The Importance of Proper Safe Harbour Advice
Directors need to get the elements of Safe Harbour right or they may be banned as a director or become liable for Insolvent Trading.
