Australia

Directors have the option to trade their company out of financial difficulty without the fear of being personally liable for insolvent trading, if they meet the requirements of the insolvent trading safe harbour provisions in the Corporations Act. Importantly, the safe harbour provisions are only accessible if the company engages suitably qualified Restructuring Advisors such as those from William Buck’s Restructuring & Insolvency team.

A team of our experts, hand-picked for each safe harbour engagement, will provide exceptional safe harbour advice, tailored to each client’s unique circumstances. Seeing a business through troubled waters can be a simple engagement or it can require more complex assistance to execute an effective turnaround solution – our advisors will help you determine what level of support you need to succeed.

Avoiding insolvency is paramount to a business’s success but sometimes circumstances prevail in which there is uncertainty as to whether a company continues to beis solvent or not. The personal risk for directors during this time is significant and without proper guidance the outcomes can be disastrous. We have a proven record in advising businesses under the safe harbour provisions and have helped many companies avoid insolvency and put the available protections in place to limit directors’ personal risk.

Safe Harbour reviews Specialists

Latest insights from our Restructuring & Insolvency team

Canberra to consult on the treatment of corporate trusts under insolvency law
24 November 2021 | Minutes to read: 2

Canberra to consult on the treatment of corporate trusts under insolvency law

Australia’s current insolvency law does not clearly address the treatment of corporate trusts which are commonly used...
Directors beware – or face potential criminal charges and ASIC banning orders
11 November 2021 | Minutes to read: 3

Directors beware – or face potential criminal charges and ASIC banning orders

In a strong warning to company directors over the past four weeks, Australia’s corporate watchdog has issued...
Are your directors ready to apply for their Director Identification Numbers?
2 November 2021 | Minutes to read: 3

Are your directors ready to apply for their Director Identification Numbers?

As a CFO, regulatory and risk management responsibilities are an increasing focus, with Boards relying on you...
Safe harbour review: ARITA’s recommendations
20 October 2021 | Minutes to read: 3

Safe harbour review: ARITA’s recommendations

In response to Treasurer Frydenberg’s announcement in May of the government’s intentions to reform Australia’s insolvency framework...
How to detect and prevent employee fraud in the ‘new normal’
23 August 2021 | Minutes to read: 5

How to detect and prevent employee fraud in the ‘new normal’

This article is authored by Cameron Johnstone, Dominic Molluso and Sean Wengel. Employee fraud is all too...
ASIC bans send warning to directors
10 February 2021 | Minutes to read: 2

ASIC bans send warning to directors

The first few weeks of February 2021 saw the Australian Securities and Investments Commission (ASIC) disqualify three...

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