Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 25 OCTOBER 2010

Insolvency safe harbour for directors

Clayton Utz
Explore more from Clayton Utz

Australia's insolvency industry has been highly active for the best part of two years now and with the fallout of the GFC providing ongoing activity for practitioners, the industry now faces numerous calls for reform stemming from the long-running Senate inquiry released last month. Together with recent guidance and reporting from ASIC, there's no shortage of issues for practitioners and company directors to think about. Joining us to discuss is Karen O'Flynn, who heads up the restructuring an

AustraliaCorporate/Commercial Law
Karen O'Flynn
Karen O'Flynn
Author LinkedIn connections

David Bushy, Boardroom Radio

Karen O'Flynn, Partner, Clayton Utz

Listen to the Radio Interview here.

DAVID BUSHBY

Welcome to Boardroom Radio.

Australia's insolvency industry has been highly active for the best part of two years now and with the fallout of the GFC providing ongoing activity for practitioners, the industry now faces numerous calls for reform stemming from the long-running Senate inquiry released last month. Together with recent guidance and reporting from ASIC, there's no shortage of issues for practitioners and company directors to think about. Joining us to discuss is Karen O'Flynn, who heads up the restructuring and insolvency team for Clayton Utz. She joins us from Sydney. Welcome Karen.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Video

Misrepresentation In Commercial Contracts Under Australian Law

Misrepresentation in commercial contracts can expose businesses to significant legal and financial consequences, particularly where inaccurate statements, misleading disclosures, or unrealistic forecasts induce entry into a transaction. Under Australian law, parties may pursue remedies through both common law misrepresentation claims and statutory misleading or deceptive conduct provisions under the Australian Consumer Law, with potential outcomes including rescission, damages, and compensation orders.
AustraliaCorporate/Commercial Law
Stonegate Legal
Stonegate Legal
Article

Force Majeure Clause Risks In Australia Explained

Force majeure clauses in Australian contracts determine whether extraordinary events can suspend, delay, or excuse contractual obligations, but relief depends entirely on precise wording and strict compliance with notice and mitigation requirements. Understanding when businesses can legally invoke force majeure versus when they risk breach of contract claims is critical for managing commercial disruption.
AustraliaCorporate/Commercial Law
Stonegate Legal
Stonegate Legal
Article

Frustration Of Contract Explained: Can You Legally Walk Away?

Frustration of contract is widely misunderstood in Australian law, with many assuming contracts automatically end when circumstances become difficult or expensive. This guide examines the strict legal test applied by Australian courts, explaining when supervening events truly discharge contractual obligations and why financial hardship, increased costs, and commercial difficulties typically fall short of the frustration threshold.
AustraliaCorporate/Commercial Law
Stonegate Legal
Stonegate Legal
Article

What Is The Liability Under A Contractor Agreement In Australia?

A contractor agreement determines who pays when work goes wrong. Independent contractors carry their own commercial risk, unlike employees, so the agreement allocates that risk in detail. Liability commonly arises from breach of contract, intellectual property infringement, and breaches of confidentiality. Indemnities, liability caps and insurance requirements are the three tools that allocate it. Australian law puts limits on that allocation. Consumer guarantees under the Australian Consumer Law apply automatically, and no contract can exclude them.
AustraliaCorporate/Commercial Law
LegalVision
LegalVision
Article

Dividend Payments - Key Issues For Australian Company Directors

Dividends are a common way for companies to distribute value to shareholders, but whether to declare or pay a dividend is not simply a commercial decision. Directors must ensure that any dividend complies with the Corporations Act 2001 (Cth) (Corporations Act), the company’s constitution and relevant governance requirements, while considering their duties to the company and its creditors.
AustraliaCorporate/Commercial Law
Bartier Perry Solicitors
Bartier Perry Solicitors
Article

ASIC And APRA Corporate Plans 2026–27: What Regulated Entities Should Expect

APRA and ASIC have released their 2026–27 Corporate Plans, signalling more intensive supervision and enforcement, alongside targeted measures intended to reduce unnecessary regulatory burden. Their priorities span operational resilience, cyber security, artificial intelligence, consumer protection, insurance, superannuation, market integrity and digital assets. For regulated entities, the plans provide a practical roadmap of the areas most likely to attract supervisory attention, information requests and, where deficiencies are identified, enforcement action.
AustraliaCorporate/Commercial Law
Gilchrist Connell
Gilchrist Connell