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Safe harbour and beyond: Shaping Australia's corporate rescue landscape

Chelsea Austin

Insolvency law journal, 2024-04, Vol.32 (1), p.28-47

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Título:
Safe harbour and beyond: Shaping Australia's corporate rescue landscape
Autor: Chelsea Austin
Assuntos: Bankruptcy ; Corporation law ; Corporations ; Debtor and creditor ; Directors of corporations ; Economic aspects ; Liquidation
É parte de: Insolvency law journal, 2024-04, Vol.32 (1), p.28-47
Notas: INSOLVENCY LAW JOURNAL, Vol. 32, No. 1, Apr 2024, 28-47
Informit, Melbourne (Vic)
Descrição: The safe harbour provisions were introduced to the Corporations Act 2001 (Cth) in September 2017. An independent review of the impacts of the safe harbour provisions on the conduct of directors and the interests of creditors and employees was initiated on 24 August 2021, with a final report presented to the Assistant Treasurer on 23 November 2021 that prescribed 14 recommendations. This article explores the extent that these recommendations, as well as the recommendations directed towards the safe harbour in the Parliamentary Joint Committee on Corporations and Financial Services' final report for the inquiry into corporate insolvency, are likely to succeed in fulfilling the safe harbour's overarching purpose. It is suggested that while the implementation of these recommendations will positively impact Australia's corporate rescue landscape, further reforms, as set out herein, might be considered.

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