Business Turnaround & Restructuring

Safe harbour

A strategic & informal way to restructure a business

Safe harbour enables company directors to have support and assurance to turnaround the business without the possible threat of insolvent trading looming over their heads during the process.

The safe harbour regime’s aim is to give company directors the opportunity to seek proper advice to develop and implement an action plan to achieve a better outcome for the company and its stakeholders, when compared to simply closing the doors and appointing an administrator or liquidator. 

However, criteria must be met to take advantage of the safe harbour regime’s protection.

Background

Directors have a duty not to trade while insolvent

Insolvent trading happens when directors allow their company to incur debts when the company is insolvent. In the event of a liquidation, liquidators can claim as compensation against a director, personally, the total unpaid debts incurred from the time the company became insolvent to the start of the liquidation.

Service highlights

Why choose a safe harbour solution

The safe harbour regime aims to protect directors from a potential insolvent trading claim while restructuring the company with expert help, outside of a formal insolvency process.

Breathing space

Protects directors over company debts incurred directly/indirectly relating to developing and acting on a restructure plan.

Debt coverage

Includes debts incurred in the usual course of business.

Umbrella cover

Can protect holding companies when subsidiary company has safe harbour.

Explore opportunities

Enables genuine opportunities to strategically restructure.

How we help

Difficult business or personal financial situations

We operate as specialists in a unique sector, dealing with bad debts and distressed businesses and personal finances. We have the tools and framework to lead all parties through choppy seas. Tough situations often mean honest conversations and we will never shy away from the straight talk that insolvency demands.

We're here to help

We speak with people and their advisors every day. We do this as complimentary and without expectation.

Jason Bettles

Principal, Gold Coast, Northern NSW

Jason Bettles

Principal, Gold Coast, Northern NSW

Aaron Lucan

Principal, Western Sydney, Central West

Aaron Lucan

Principal, Western Sydney, Central West

Stephen Hundy

Principal, Canberra, Wollongong

Stephen Hundy

Principal, Canberra, Wollongong

Matthew Kucianksi

Principal, Melbourne, Ringwood

Matthew Kucianksi

Principal, Melbourne, Ringwood

T: 03 9613 5518

F: 03 9613 5599

EMAIL Matthew

Mervyn Kitay

Principal, Perth

Mervyn Kitay

Principal, Perth

Business can be tough

Our team is focused and ready to help

Contact a Principal

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