Australian company directors have long been under a legal duty to prevent their companies from trading while insolvent, or while there are reasonable grounds for suspecting insolvency. If a corporation traded while insolvent, directors could be held personally liable.
The Federal Government’s moratorium on personal liability for insolvency – an unprecedented move driven by the severe financial impacts of the COVID-19 pandemic – may have allowed for a sense of complacency to creep in.
As the moratorium’s 31 December end date looms and other Government support measures are wound back, it is essential that directors of companies that are financially distressed, at risk of becoming insolvent, or overly reliant on Government support to remain profitable arm themselves with the information they need to navigate the return to the status quo.
Executive Director, Vantage Performance
Andrew is Executive Director at Vantage Performance. Andrew is a results-driven management consultant and chartered accountant offering more than 20 years’ experience managing and advising businesses, developing and implementing strategic plans, spearheading change initiatives, leading full-scale restructuring and turnaround projects, overseeing sale negotiations and delivering best-practice corporate governance and risk management solutions to listed and unlisted companies. Vantage partners with Boards and Executive Teams to build stronger, more resilient companies. Our core skill sets are business turnaround and performance improvement. Vantage believe that one of the secrets to effective turnarounds is early intervention, and they predict that safe harbour will encourage early interevention, and significantly reduce the rate of business failure. Andrew was involved with St Bartholomew’s House for 10 years, including 7 years as Chairman. In that role, Andrew saw the devastating effects that can be triggered by a mistake in business or life, which changed the way he looks at insolvency and near-insolvent situations. Andrew was awarded the AICD PwC Director Award for Excellence in the Not-for-Profit Sector in 2013 for his work with St Barts.
Partner, HWL Ebsworth
For more than 20 years Alison has specialised in all aspects of insolvency, reconstruction and recovery. Alison has consistently acted for major banks, as well as mid-tier lenders, providing strategic advice, and where necessary, acting to enforce securities in the most efficient way, cognisant always of the lender's policies toward customers. Alison also acts for insolvency practitioners, both big firm and boutique, in their various roles as receivers, administrators, and liquidators. She brings her significant experience and judgment to every aspect of external administrations. Alison also specialises in general commercial litigation, including contract disputes, litigation arising from board disputes, representation based claims, partnership and property disputes, with a focus on timely and cost efficient outcomes. Alison has received the following industry recognition: • Asialaw Profiles (Restructuring and Insolvency) 2014, 2015 • Best Lawyers (Insolvency and Reorganisation Law) 2016, 2017, 2018, 2019, 2020 • Chambers Asia Pacific (Restructuring/Insolvency) Up and Coming 2016, 2017 • Doyle’s Guide (Insolvency) Leading Lawyer, 2017, 2018, 2019, 2020 • Doyle’s Guide (Insolvency) Recommended Lawyer, 2012, 2013, 2014, 2015, 2016
Date & Time:
Wednesday, 17 February 2021 1:00pm – 2:00pm
At your desk
Delivered live online
1.0 Point Competency 4: Substantive Law
CPD Freedom: $0*
Date & Time:
Wed, 17 February 2021 1.00pm - 2.00pm
At your desk, Delivered live online waGet Directions on Map
none Points Professional Management
none Points Professional Responsibility
none Points Ethics