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Question: repeated what is a safe harbour what are the...

Question details

Repeated :

What is a safe harbour, what are the legal requirements of meeting safe harbour in corporation law in Australia?

 

How is it done and What are the benefits of meeting safe harbour requirements in the event of insolvency litigation? Please provide bibliography and related reading material

 

Hint:

Safe Harbour I to referring to in the context of Corporation Law in Australia is about what the company management does to protect the company and stakeholders interests in the times of insolvency.

By doing or taking some actions (safe harbour) which are better than what would a liquidator or administrator does to the company would give safe harbour to the directors from being penalised persoanlly.

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