Companies get 6-month safe harbour on solvency law

Fri, 03 Apr 2020

The government has responded to an increasing clamour from the business community and created a six-month "safe harbour" for directors of companies that would otherwise face insolvency as a result of the coronavirus crisis and national shutdown.Finance Minister Grant Robertson stressed that the relief is temporary and comes with significant strings that take creditors' interests into account.Directors will have a safe harbour protection for six months and they can opt to place existing debts into hibernation until the company can operate normal...

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