Reforms to prevent misuse of the FEG Scheme: new obligations and risks when continuing to trade in a VA
Part 5.8A of the Corporations Act 2001 (Cth) has recently been amended by the Corporations Amendment (Strengthening Protections for Employee Entitlements) Act 2019 (Cth). 5.8 A concerns transactions which may have the effect of avoiding, preventing or significantly reducing the recovery of employee entitlements in a liquidation.
The amendments that have been made, for the purpose of strengthening protections provided for the recovery of employee entitlements and deterring the avoidance of these entitlements, have important consequences in relation to the decision of voluntary administrators to continue to trade the business during the convening period. While the Corporations Act provides for both criminal and civil liability, it is the civil liability provisions that are perhaps of more relevance to administrators in their decision to continue to trade a business.
This presentation, by Jonathan Turner and Noel McCoy of Norton Rose Fulbright, will explore the obligations imposed on administrators under the new regime and the risks associated with the decision to continue to trade the business.
Date
Thursday 3 October
Time
Registration from 5.30 pm; Presentation 6.00-7.00 pm followed by networking refreshments
Venue
Norton Rose Fulbright
Level 18, Grosvenor Place
225 George Street
Sydney NSW 2000
Price
$71 members & subscribers, $87 non-members (GST incl.)
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