"Safe Harbour" lifeline for businesses on the brink
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Running Time: 9:10
Company directors will be able to explore restructuring alternatives without incurring penalties if new "safe harbour" laws are introduced.
Sean Wengel of William Buck welcomes the Productivity Commission's proposed changes to the insolvency trading laws. Currently, directors face stigma and loss of company value when external administrators are appointed. Sean Wengel says the new laws will buy directors time to seek restructuring advice and give them the opportunity to turn their businesses around.
Topics: Financial Management
Sean Wengel, William Buck