Safe Harbour
Are you wanting to continue trading while insolvent and return your company to its former glory?
If you believe you can turn your company around and get it out of the debt it’s currently in, then Safe Harbour might be an avenue worth exploring.
The Safe Harbour provisions encourage company directors to maintain control of a business that is financially struggling and take reasonable steps to restructure and develop a plan to move forward.
The provisions provide safety against any potential insolvent trading claims against directors personally should the Company later enter liquidation.
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Seek Professional Advice On “Safe Habour” Provisions
An appointed adviser can provide guidance on the steps you may take.
Safe Harbour can be beneficial for small businesses and start-ups. It allows directors to manage the company’s affairs and provide them with an opportunity to restructure.