When is it time to look for a Safe Harbour? Board responsibilities when insolvency looms

James Macdonald and Michael Lhuede of Piper Alderman provide guidance to board members on how to assess whether a company is nearing the zone of insolvency, pointing to a recent Court of Appeal case that indicates that the cashflow test is most important when assessing near term solvency under section 95A of the Corporations Act.

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