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Safe Harbour Update from Wexted Advisors

With the temporary safe harbour defence for directors coming to an end on 31 December 2020, we provide an update of the safe harbour law reform and an overview of recent engagements undertaken by Wexted Advisors.

Safe Harbour Update

With the temporary safe harbour defence for directors coming to an end on
31 December 2020, we provide an update of the safe harbour law reform and an overview of recent engagements undertaken by Wexted Advisors.

As rent deferrals, JobKeeper 2.0 and other Government incentives begin to wind down, we start to consider the key issues for 2021.  We expect working capital will be a focus area for directors next year and will result in an uptick in directors of ASX Listed Companies and Large Corporates considering and seeking safe harbour as a defence, as they seek protection and time while they strengthen their balance sheets.

As the market leaders in providing advice to directors of ASX Listed and Large Corporates under the provisions of safe harbour (section 588GA), and as Registered Liquidators we are qualified to undertake the better outcome assessment required for directors to rely on the safe harbour defence.

Please feel free to contact either Joe Hayes, Andrew McCabe or Raj Goyal on (02) 9210 1700 if you require any practical insights or have further queries into safe harbour.

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