Director Safe Harbour

We are appropriately qualified to provide specialists services to directors and boards within the Safe Harbour framework afforded under section 588GA of the Corporations Act 2001.

We have been engaged as safe harbour advisers for numerous boards and directors in developing and implementing plans for restructuring to improve the financial outcomes.

The safe harbour provisions commenced on 19 September 2017 and protect directors from personal liability for debts incurred by an insolvent company if, after a director starts to suspect that the company may become or is insolvent, the director starts developing a course of action that is reasonably likely to lead to a better outcome for the company than the immediate appointment of an administrator or liquidator. For safe harbour protection to come into effect the director(s) must obtain advice from an appropriately qualified entity .