Safe Harbour – What have we learned so far?

Has the alternative restructuring mechanism been a success?

Introduced in September 2017, the safe harbour regime allowed directors and boards to implement turnaround strategies without the need for a formal insolvency appointment – has it been effective?

This session will explore:

• the process of safe harbour
• how directors can avail themselves of the safe harbour provisions
• how the engagement is structured

We’ll examine a case study where a mid-sized business was successfully turned around without the need for the appointment of a voluntary administrator.

Andrew will delve into some of the detail around the underpayment of employee entitlements and the position several well-known businesses have found themselves in of late and how that impacts a company’s ability to enter the safe harbour regime

We will also review the recent changes to the safe harbour provisions that incorporate the small business restructuring process and the simplified liquidation legislation introduced in 2021 as a result of the COVID-19 pandemic and the government’s response to it

Learning Outcomes:

At the end of the presentation, attendees can expect to understand:

• the eligibility criteria to enter into safe harbour
• when a client should consider using the safe harbour provisions
• how a safe harbour engagement can be structured
• what a safe harbour plan needs to address
• the different approaches can be undertaken
• the options available to clients in financial distress and how safe harbour can be used to complement those options
• whether, in the restructuring industry’s view, it has been a success

Suited to:

The content of the presentation is suitable for directors of SMEs and larger companies and is particularly relevant to accountants and solicitors who are often asked to provide advice to their clients about their options should they find themselves in financial distress

This On Demand includes: 

• a recording of the webinar Event which can be viewed multiple times
• a PDF of the presenter’s PowerPoint
• a verbatim Transcript
• any supporting documentation
• a CPD Certificate after successful completion of the Knowledge Quiz