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Seeking safe harbour from the COVID-19 pandemic: A primer for directors

As directors consider how to meet their duties during the COVID-19 pandemic, the safe harbour provisions may provide some protection from insolvent trading liability.

Introduction

Australia, Company & Commercial, Insolvency & Restructuring, Cooper Grace Ward, Coronavirus
Considerations for directors and a test for existing insolvency laws

As part of its economic response to the COVID-19 pandemic, yesterday the Government passed a ‘temporary safe harbour’ insolvency measure[1].

Australia, Company & Commercial, Insolvency & Restructuring, King & Wood Mallesons, Coronavirus