Safe Harbour reforms – ‘Hope’ is not a strategy

The ‘Safe Harbour’ reforms were introduced into the Corporations Act in late 2017 and provide directors with protection from personal liability for debts incurred whilst they undertake a course of action that is reasonably likely to lead to a ‘better outcome’ for the company, than an immediate appointment of an administrator or liquidator. It is designed to encourage directors of companies with an uncertain financial position to attempt a turnaround plan.

View our Safe Harbour reforms – ‘Hope’ is not a strategy brochure or our Safe Harbour reforms video for more information.