Insolvent trading safe harbour review: KPMG Submission

KPMG's submission to Treasury focuses on recommendations to improve take-up and awareness of the insolvent trading ‘Safe Harbour’.

The Safe Harbour legislation (section 588GA of the Corporations Act) protects company directors from personal liability for insolvent trading if the company is undertaking a legitimate restructure which is likely to result in a better outcome for the company. KPMG has advised a number of its clients on navigating the requirements of Safe Harbour and has developed a KPMG Framework for Safe Harbour to ensure directors have a better understanding of the steps involved. The use of Safe Harbour ...

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Authors: James Stewart, Robyn Duggan

Published Date: 05 November 2021