Searching for Safe Harbour in difficult times

The ‘Safe Harbour’ regime under the Corporations Act 2001 (Cth) (the “Act”) provides businesses facing insolvency an opportunity to access legal safe harbour from civil penalties and adverse orders, in circumstances where those businesses would have otherwise been trading whilst insolvent under section 588G of the Act. Insolvency The Act imposes a fundamental duty on [...]

2024-09-02T00:57:10+00:00September 2nd, 2024|Uncategorized|Comments Off on Searching for Safe Harbour in difficult times
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Key Insolvency Reforms You Need to Know!

The Insolvency protections, which were in place since March 2020 (known as the ‘insolvency moratorium’) has now come to an end. Accordingly, those protections afforded by the Coronavirus Economic Response Package Omnibus 2020 (Cth), such as the increase in debt owing before a creditor could issue a statutory demand (from $2,000 to $20,000), the extension [...]

2021-01-06T08:32:55+00:00January 6th, 2021|Business Advice, Corporate Advisory|Comments Off on Key Insolvency Reforms You Need to Know!
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