Out of the "safe harbour" and into the "dry dock" | Practical Law
As part of its economic response to the 2019 novel coronavirus disease (COVID-19), the federal government has passed a "temporary safe harbour" insolvency measure. It suspends (for six months, if not extended) the current "insolvent trading" regime whereby directors can be personally liable for debts incurred by their company at a time it is insolvent.