Recent news & publications
Date: 06 Feb 2018
The recently enacted safe harbour legislation provides protection to company directors and officers from a claim for insolvent trading where they develop a course of action that is reasonably likely to result in a 'better outcome' for a company.
Date: 12 Dec 2017
In this video interview, Scott Guthrie speaks about the potential risk of a turnaround professional being considered a director of the company they have been appointed to assist in a safe harbour scenario, which could expose them to a later claim for insolvent trading if the company goes into liquidation and the safe harbour defence fails.
Date: 06 Dec 2017
The Privacy Amendment (Notifiable Data Breaches) Act 2017 (Cth) applies to government agencies, private sector organisations with annual turnovers over $3m, and all organisations handling health information or involved in credit reporting.
Date: 30 Nov 2017
Consider the position of the buyer of a business, entering into a sale agreement with the seller. The seller will make various representations about the business that will be underpinned with warranties and indemnities, all for the purpose of giving the buyer comfort about what they are purchasing.
Date: 29 Nov 2017
The newly enacted Treasury Laws Amendment (2017 Enterprise Incentives No.2) Act (Cth) 2017 (Safe Harbour Legislation) is primarily concerned with giving company directors breathing space in circumstances where a restructure is being pursued.
Date: 26 Oct 2017
A central theme in Australia’s safe harbour legislation is a “better outcome for the company”. Achieving a “better outcome” is the ultimate aim of the course of action to be taken by directors to enliven the protection afforded by the safe harbour regime. Conversely, directors will be outside safe harbour once that course of action ceases to be reasonably likely to achieve that “better outcome”.
Date: 23 Oct 2017
An initial public offering (IPO) can be an attractive way for some companies to facilitate the continued growth of their business. But it’s a significant undertaking that won’t be appropriate in every case, and a listing on the ASX brings about a new regulatory environment to comply with, including continuous disclosure obligations. A decision to conduct an IPO and list on the ASX should be carefully considered.
Date: 03 Oct 2017
In our Safe Harbour Wheelhouse publication series we will consider how the new laws are likely to play out and impact key stakeholders once companies begin relying on the new provisions in months and years to come. In this first update, we look at some of the issues that directors and unsecured creditors will need to consider given the Corporations Act’s silence about whether or not a restructure plan should be disclosed to creditors.
Date: 29 Sep 2017
After months of anticipation, speculation and some controversy, the Turnbull government’s crowd-sourced funding (CSF) regime for unlisted public companies came into effect today, 29 September 2017.
Date: 22 Sep 2017
What do investors consider most closely when evaluating an opportunity to invest in an initial public offering (IPO)? Do institutional and retail investors place different weight on different sources of information? How well do retail investors really understand prospectuses?
Insolvent trading - safe harbour is on the way but what should directors do today if faced with financial difficulty?
Date: 09 Aug 2017
The July 2017 edition of the Financial Services Newsletter (a LexisNexis publication) contains an article by John Stragalinos entitled ‘Insolvent trading – safe harbour is on the way but what should directors do today if faced with financial difficulty?’
Date: 03 Aug 2017
Investor roadshows are frequently rolled out by various companies, from start-ups to well-established corporates in need of funding. Naturally, every company will want to put its best foot forward and present as compelling a case as possible to attract investors to their business.
Date: 03 Aug 2017
For many early stage and fast growth companies, the most (or only) valuable asset is their intellectual property (IP). IP encompasses various rights such as patents, trade marks, copyright, designs and trade secrets, and is often what gives a company an edge over its competitors.
Date: 24 Jul 2017
The concept of ‘board evaluation’ covers everything from a director having a quiet chat with the Chairman to detailed questionnaires and interviews with an external facilitator. Some boards and directors shy away from it, or only undertake it at a surface level. But when handled in the right way, board evaluation is an important piece of ‘kit’ in an organisation’s strategic tool bag.
Date: 16 Jun 2017
A recent decision of the Federal Court of Australia provides a window into the figurative mind of the court when considering whether to approve an application to convene a shareholders meeting to approve a Scheme of Arrangement.