macpherson kelley and BRI Ferrier webinar – insolvency law reform
mins reading time
Macpherson Kelley and BRI Ferrier discuss insolvency law reforms and the removal of the temporary “Safe Harbour”.
The Federal Government has announced that it will be reforming the insolvency laws to allow directors of small businesses which are financially distressed to remain in control with a view to restructuring rather than immediately being placed in the hands of an administrator. The changes will become effective from 1 January 2021.
What about companies that don’t qualify, because they have debts of greater than $1 million? Large companies will be required to work under the existing insolvency laws, without the benefit of the temporary “Safe Harbour”.
This webinar examines;
- Transitioning from the temporary “Safe Harbour”
- When Voluntary Administration is the only option
- Interaction between Voluntary Administration and Receivership
- Voluntary Administration to restructure
- Voluntary Administration as a first step to winding up
The information contained in this article is general in nature and cannot be relied on as legal advice nor does it create an engagement. Please contact one of our lawyers listed above for advice about your specific situation.
more
insights
stay up to date with our news & insights
macpherson kelley and BRI Ferrier webinar – insolvency law reform
Macpherson Kelley and BRI Ferrier discuss insolvency law reforms and the removal of the temporary “Safe Harbour”.
The Federal Government has announced that it will be reforming the insolvency laws to allow directors of small businesses which are financially distressed to remain in control with a view to restructuring rather than immediately being placed in the hands of an administrator. The changes will become effective from 1 January 2021.
What about companies that don’t qualify, because they have debts of greater than $1 million? Large companies will be required to work under the existing insolvency laws, without the benefit of the temporary “Safe Harbour”.
This webinar examines;
- Transitioning from the temporary “Safe Harbour”
- When Voluntary Administration is the only option
- Interaction between Voluntary Administration and Receivership
- Voluntary Administration to restructure
- Voluntary Administration as a first step to winding up