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.