In today’s uncertain economic landscape, business leaders and entrepreneurs face unprecedented challenges that threaten their companies’ very existence. The legal construction of “Safe Harbour” emerges as a potential lifeline for companies teetering on the brink of financial instability by providing protection to Directors who are trading whilst insolvent to enable them to achieve a better outcome than might be achieved if they had to appoint a voluntary administrator.
Mind the Gap
While the Safe Harbour framework offers a lifeline to financially distressed companies, it must be approached with caution to avoid these top five pitfalls:
1. Insufficient Evidence: Comprehensive and precise records of the companys compliance with the Saf…
Read the full article at: https://www.businessnews.com.au/article/Unlocking-Safe-Harbour-A-smooth-sea-never-made-a-skilled-sailor