In situations of strong headwinds, Vantage Performance is there to help and provide you with a Safe Harbour to provide time and resources to turn around your company and to get it back on track.
What is Safe Harbour?
In September 2017, the Government introduced legislative reform that provides Directors with protection from insolvent trading as long as they enact the Safe Harbour process.
The purpose of the Safe Harbour reform is to enable Directors to develop a turnaround plan for their business with the peace of mind that they won’t be sued for insolvent trading should the plan not be successful.
The legislation recommends that Directors engage an appropriately qualified entity / Turnaround Advisor to advise the company and assist in developing and executing a turnaround plan.
Vantage Performance is a leading expert in this field. Provided below is some useful links to more information about how the Safe Harbour process works.
If you would like a more detailed overview of the Safe Harbour process and how it works, click here to download the Safe Harbour Brochure – Vantage Performance.
Safe Harbour Articles
November 2020 – Enact Safe Harbour now to protect you and your business
June 2020 – The Importance of Safe Harbour Ahead of September 2020
March 2020 – COVID-19 Insolvent Trading Relief
March 2020 – Creditor-Defeating Dispositions
June 2019 – What Safe Harbour Legislation Means for a Struggling Business
October 2018 – Employee Entitlements & Safe Harbour Eligibility
June 2016 – Safe Harbour for Companies in the Twilight Zone
Safe Harbour Podcasts and Videos
About Safe Harbour – https://youtu.be/lCX2MnW8jt4
Safe Harbour Deadline* – https://youtu.be/flMEvqmk0K8
*The Temporary Covid Safe Harbour protection is ending on 31 December, 2020
September 2017 – The New Safe Harbour Laws
June 2017 – Safe Harbour Law Will Save More Aussie Businesses
Other Resources
TMA Australia: Best Practice Guidelines – Navigating Safe Harbour
