Out of the Den into the Harbour; safe harbours for companies during and after hibernation

2 April 2020

The Coronavirus Economic Response Package Omnibus Act 2020 provides relief for companies and directors that trade while insolvent from
25 March 2020. Nicola Nygh, Ekaterina Zotova and Jack Halim discuss the operation of the new safe harbour on directors’ duties during and after the “hibernation” and the increased threshold and statutory period for issuing statutory demands.

To protect public health during the COVID-19 pandemic, the Australian Government has implemented drastic restrictions on the daily life of all Australians, including quarantines, travel bans, restrictions on gatherings and closure of non-essentials premises. There are more to come. Continue Reading…