Harbour Masters - safe harbour & restructuring blog

Welcome to Harbour Masters, where we offer insights and updates on the expertise and guidance available for the Directors of companies in need of advice in the face of stiff trade winds. Our updates focus on the critical business topics of restructuring, turnaround, and the availability of the new 'Safe Harbour' provisions, all designed to help companies renew, restructure, and rebuild. 

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Peter Krejci

Peter is a registered and official liquidator and a founding principal of BRI Ferrier with over 20 years' experience in corporate recovery and turnaround management. He has extensive experience advising secured creditors and boards of directors on options available to them in dealing with companies in financial distress. While primarily working with medium-sized corporates, Peter's experience extends to organisations of all sizes including public and private companies and government entities.

Recent Posts

Safe Harbour and Continuous Disclosure – An Update

21-Mar-2018 12:40:21 / by Peter Krejci posted in legislation, Safe Harbour, Directors, Better Outcome, Guidance, Qualified Adviser, Restructuring, Turnaround, Listed Entities

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Listed/disclosing entities need to disclose ‘safe harbour’ issues, but not necessarily ‘safe harbour’ itself

Since the launch in September 2017, there has been considerable debate among professional advisors about the availability of Safe Harbour to Listed and disclosing entities, that is, those with obligations to keep markets informed of information about their securities (shares, units etc.) that a reasonable person would think likely to be material to the price.

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A potential lifeline for retail in the New Year?

07-Feb-2018 11:24:35 / by Peter Krejci posted in Safe Harbour, Directors, Better Outcome, Plan, Retail, Amazon, Restructuring, Turnaround

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Sydney-based Principal Peter Krejci contributed an article in the February 2018 edition of the Governance Institute's membership magazine, 'Governance Directions', published last week. 

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Deed of Company Arrangement - Commercial Settlement

15-Jan-2018 12:07:44 / by Peter Krejci posted in Safe Harbour, Creditors, Directors, Better Outcome

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A Deed of Company Arrangement (“DOCA”) can be the perfect instrument to facilitate a commercial settlement between parties where there are no other viable options available, as demonstrated by the recent matter of Brightwater Engineering Solutions Pty Limited (“the Company”).

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Down the Amazon to Retail Safe Harbour?

05-Dec-2017 12:13:37 / by Peter Krejci posted in Safe Harbour, Directors, Retail, Amazon

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With the official start date of Amazon Australia's operations locally being today, the reported fears and apprehensions of Australian retailers over the past decade have now been realised. As the media have built-up talk of the negative impact upon retailers, having seen Amazon's effect upon similar businesses in the US and the UK, we look ahead to the likely benefits to retailers set-up as companies in Australia using the Safe Harbour provisions in the Corporations Act.

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What's a 'Better Outcome'?

15-Nov-2017 13:03:03 / by Peter Krejci posted in Safe Harbour, Better Outcome

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Safe Harbour laws effectively provide protection to directors from insolvent trading liability if they pursue a plan that is reasonably likely to achieve a better outcome than an immediate appointment of an Administrator or Liquidator.

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Legislative aims

27-Jun-2017 10:28:00 / by Peter Krejci posted in legislation, Safe Harbour

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The legislation addresses the problems for directors that arise when they learn about their company’s financial difficulties. The reforms provide a period of “breathing space”. During this time, directors will, with the assistance of professional external advisers, be able to work through a plan or plans for the turnaround of the company. The breathing space is not “carte blanche”. As outlined below, to benefit from the safe harbour laws, directors will need to comply even more rigorously with some requirements than would be the case for a solvent company. Such requirements may include the lodgement of Activity Statements and adherence to principles of proper corporate governance.

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