No one expected these immortal words by Split Enz to be so relevant during the COVID-19 pandemic. However, that is exactly how some directors may be left feeling regarding the requirements to qualify for protection from trading while insolvent under the COVID-19 Safe Harbour provisions. NAVIGATING COVID-19 When COVID-19 hit Australia, it created a crisis […]
Our construction and infrastructure specialists have decades of experience having advised on some of the world’s largest and most complex construction matters involving project performance, disputes and operational or financial distress. Leveraging our local and global expertise we provide a breadth of services tailored to the client’s individual situation across every stage of the construction […]
The safe harbour provisions of the Corporations Act are there to provide directors with the ‘breathing space’ to restructure businesses outside of formal insolvency, providing protection from insolvent trading liabilities should the restructuring be unsuccessful. Our experts have an exceptional track-record of guiding boards and management through difficult circumstances.
Our experienced team is skilled at engineering and executing formal and informal solutions to maximise value from distressed or insolvent companies. Whether it’s providing an in-depth turnaround plan to drive value in a restructure, or supporting clients in more distressed situations on how to move forward with a sale or exiting the business.
The Australian safe harbour legislation came into effect in September 2017. The objective of safe harbour is to promote entrepreneurialism and foster a turnaround culture to save businesses, rather than allow them to fail. In this video Joseph Hansell talks about the reality of its use, who is leveraging it and how FTI Consulting can […]
Our restructuring experts have analysed the FY19 Australian Securities and Investments Commission (ASIC) Insolvency Statistics here they highlight the Australian industries showing the most signs of distress and key trends amongst appointment types. Click the download button to view the full infographic.
Part 2 | All aboard! A safe harbour is your destination.
Part 1 | Solvent liquidations – dealing with a ghost
This article provides a timely refresher as to the common errors and traps that Security Parties may find themselves in during the registration process.
Each State in Australia has Security of Payment legislation which provides protection to contractors in the construction industry by ensuring they have adequate avenues to recover payment owed for works performed. Unlike other States, Western Australia’s Security of Payment legislation affords protection to not only contractors but Principals as well, allowing claims to be made […]
Do your clients ever ask you about; alternatives to alleviate distress in their businesses? How to deal with creditors pressing for payment? How to keep financiers, the ATO and key stakeholders happy?