As is widely known, directors owe a number of statutory and fiduciary duties to a company to act in its best interests. Additionally, since 19 September 2017, directors of financially distressed companies have been able to potentially invoke safe harbour protection against later assertions of insolvent trading for debts incurred pursuant to "one or more courses of action that are reasonably likely to lead to a better outcome for the company".

But when insolvency encroaches, or becomes likely, how does one assess what is in a company's best interests or whether actions taken by a director can be said to have properly invoked safe harbour? Are the only relevant stakeholders deserving of consideration the shareholders? Or do directors also have a distinct duty to take into account the interests of creditors? And if so, when does that duty arise?

Scott Butler RITF - Partner, Hall & Wilcox and Scott Guthrie RITP - Partner, Thomson Geer, will tackle these thorny questions and review the recent overseas decisions of Sequana (UK) and Mainzeal (NZ) which closely considered these issues. 

This session will also broadcast to live audiences in Cairns and Townsville.

Date 

Time 

Venue 

Price 

Members and subscribers: $40 (GST inc.) Non-member: $60 (GST inc.)    

Host Venue

CPE

Up to 1 hour  

Cancellations and substitutions