Australian Institute of Company Directors Magazine Interview: Safe Harbour

Last month, Lachlan Edwards, the President of the Turnaround Management Association, and Marcus Derwin, Director, were interviewed for an article which appears in the July edition of the Australian Institute of Company Directors Magazine on the proposed Safe Harbour reforms to Australian insolvency laws.  A special committee of the board comprising Michael Sloan and Kathryn Smith of Ashurst, Jennifer Ball and Cameron Belyea of Clayton Utz and Carl Gunther of KPMG worked very hard on the reform process.

The TMA is a strong advocate for the recent introduction of Safe Harbour reforms and in particular, providing a liability carve-out to directors who pursue a sensible restructuring without fear of incurring liability. Click on the hyper-link below to read the article which provides a detailed overview of the Safe Harbour protections and the multiple positives for employees, creditors and customers.

Appearing in this month’s edition of the AICD Company Director Magazine:

Safe Harbour

The recent draft insolvency laws aim to offer greater protection to directors, fostering innovation and entrepreneurship, writes James Dunn…