BRI Ferrier and Macpherson Kelley invite you to join our upcoming webinar on 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 will examine;
- 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
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