Valuable information for directors of companies in financial distress. 


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Valuable information for directors of companies in financial distress. 

The impact of the recent drought, bush fires, floods and now COVID-19 is causing significant financial distress to companies. Indeed, for many companies, cash flow has slowed to a trickle or even stopped completely.

Listed below are the latest information sheets issued by ARITA (Australian Restructuring Insolvency & Turnaround Association) that may be helpful for directors whose companies are experiencing uncertain financial times.  It briefly covers:

*  Director’s duties when a company is in distress
*  Determining if a company is insolvent
*  Temporary relief for financially distressed businesses
*  Safe Harbour protections

Click on this link for the information sheet – Directors duties in uncertain financial times ... Director duties.

Click on this link for the information sheet – An update for accountants guidance to help clients with companies in financial stress (now passed by the Senate) ..Guidance for businesses in financial distress.