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. 

Read more About Us,

Follow us on Twitter @Harbour_Masters, and

Subscribe to receive regular updates in your email inbox -->

 

 

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

0 Comments

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.

Read More

Update: Bill passes

12-Sep-2017 15:34:00 / by James Koutsoukos posted in legislation, Safe Harbour

0 Comments

The Treasury Laws Amendment (2017 Incentives No 2) Bill 2017 has earlier today passed both houses.

The bill amends the Corporations Act 2001 to create a safe harbour for company directors from personal liability for insolvent trading if the company is undertaking a restructure outside formal insolvency.

Read More

Safe Harbour sails through Parliament

24-Aug-2017 15:03:00 / by Michelle Shackles posted in legislation, Safe Harbour

0 Comments

As previosuly reported, the 'Safe Harbour' law reform aims to create a cultural change among company directors.

It encourages Directors to retain control of their company, engage early with appropriate professional advisers and take considered, reasonable risks to facilitate the company’s recovery rather than prematurely deciding on a formal appointment.

Read More

Legislative aims

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

0 Comments

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.

Read More