Safe Harbour Protection for Boards and Management
May 13, 2020DownloadsDownload Service Sheet
Your crisis may arise from a one-off event, but helping you navigate it is our day-to-day business. Our experts have an exceptional track-record of guiding boards and management through difficult external circumstances as they strive to deliver corporate outcomes. We go beyond statutory advice, providing independent analysis, surge resources and new lines of communication, to support your corporate recovery journey.
What is Safe Harbour Protection?
The safe harbour provisions of Section 588GA(1) of the Corporations Act 2001 are there to provide directors and officers with the ‘breathing space’ to restructure businesses outside of formal insolvency, providing protection from insolvent trading liabilities should the restructuring is unsuccessful.
How do I access Safe Harbour?
Central to accessing safe harbour protection is that directors and officers develop “one or more courses of action that are reasonably likely to lead to a better outcome for the company” – compared to the alternatives of immediate voluntary administration or liquidation. Boards must also continue with sound governance, tax lodgements and looking after employees whilst, importantly, taking the advice of appropriately qualified professionals. As a global leader in restructuring with an enviable Australian track record, FTI Consulting is well qualified to meet this requirement.
Access Our Deep Experience
Our Australian Corporate Finance & Restructuring practice is a leading provider of informal restructuring solutions for business survival and turnaround. From experience, we know the ingredients for success. Our advice is founded in decades of successfully resolving distressed situations.
May 13, 2020