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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 […]
FTI Consulting’s restructuring experts have analysed the FY20 YTD Australian Securities and Investments Commission (ASIC) Insolvency Statistics. This infographic highlights the Australian industries showing the most signs of distress, key trends amongst appointment types, and their COVID-19 predictions.
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.
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.
Insolvencies across the economy declined in September and October, adding to the better numbers over the past 12 months, but businesses need to be vigilant.
For further information please contact Linda Bertolissio or Riina Rintanen.