There is now a defined legislated Pathway to Restructure Companies informally that leaves Directors in control.
Directors should engage Safe Harbour assistance as soon as danger signs emerge. Safe Harbour is confidential except to whom the Directors decide to “bring inside the tent”.
The Safe Harbour framework is used by both Solvent & Insolvent Companies to guide a Turnaround.
If the Safe Harbour Steps are fully complied with, then Directors do not contravene Insolvent Trading Laws.
Requirements Relaxed During COVID-19
Contact us to discuss the simpler Safe Harbour rules during COVID-19; and how and for which time periods they apply.
Greatworth
Greatworth are experts in Safe Harbour and ready to assist. Give us a call on (03) 9896 9000
Learn More
To Read More see the attached Brochure or give us a call.