SAFE HARBOUR

Resource Hub

Welcome to the Post-Webinar Resource Hub. This hub is designed to deepen your understanding and enhance the application of Safe Harbour principles within your own or your clients’ organisations. Explore our curated content, tools, and insights to stay informed and compliant.

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For those ready to take the next step, book a comprehensive safe harbour strategy session. Our experts are prepared to guide you through the nuances of Safe Harbour provisions, ensuring your organisation or clients are well-protected and compliant. You will also gain insights from advanced case studies that highlight successful applications of these provisions.

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Presentation Slides

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Webinar Recording

Access the recorded session for review or for those who missed the live event.

CPD Certificate

Thank you for attending our webinar. You should have received a CPD certificate via email. If you haven’t received it yet, please reach out, and we’ll send it to you.

Educational Material

Detailed Guides

Easy-to-understand documents detailing safe harbour rules, eligibility, and applications.

Legislative References

Direct links to or copies of the relevant legislative texts and updates.

Expert Articles

Insights from legal experts on the nuances and recent developments in safe harbour laws.

Our Safe Harbour Professionals

Kate Barnet

Principal

Kate Barnet is a recognised leader in the insolvency and reconstruction industry.

Neil Cussen

Principal

Neil is a distinguished authority in the Insolvency and Reconstruction sector, bringing over 35 years of experience to Olvera Advisors.

FAQs

Frequently Asked Questions

Get answers to common questions about Safe Harbour.

What are Safe Harbour provisions and how can they protect my company?

Safe Harbour provisions are designed to shield directors from personal liability for insolvent trading when they are actively trying to turn around a financially distressed company. Protection applies as long as the course of action being taken is likely to lead to a better outcome than immediate liquidation or administration.

What criteria must be met to qualify for Safe Harbour protection?

To qualify, directors must ensure the company meets its employee entitlements, stays compliant with tax reporting obligations, and the turnaround plan is likely to improve the company’s financial situation. Seeking advice from qualified entities is also crucial.

How does engaging in Safe Harbour affect the reporting and governance of my company?

Safe Harbour engagement requires maintaining accurate financial records and regular monitoring of both financial status and restructuring efforts. It emphasizes robust governance with clear documentation of all decisions and strategies.

Can Safe Harbour provisions be applied retrospectively to protect against past insolvent trading?

These provisions cannot be applied retrospectively. Protection starts when the company begins to develop and act on a restructuring plan that meets Safe Harbour conditions.

What are the typical steps involved in implementing a Safe Harbour plan?

The process includes assessing the company’s financial health, consulting with advisors to develop a turnaround plan, and implementing operational and financial restructuring. Continuous monitoring and adjustment of the plan are essential.

How long can a company remain under Safe Harbour protection?

There is no set time limit for Safe Harbour protection. It lasts as long as the company meets the eligibility criteria and actively works towards a better outcome, with periodic reassessment of the plan’s viability.

What happens if the Safe Harbour plan fails?

If the plan fails, directors may need to consider other options like voluntary administration or liquidation. However, failure of the plan does not reinstate liability for insolvent trading during the protection period if compliance with eligibility criteria was maintained.

Are there any restrictions or limitations on what actions can be taken under Safe Harbour?

Safe Harbour does not permit actions that are dishonest or against the best interests of creditors, such as fraudulent activities or preferential treatment of certain creditors. Actions must aim at achieving a collective better outcome for the company and its creditors.

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