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When COVID hit, the combination of JobKeeper, banks deferring principal and interest payments, and temporary changes to insolvency laws gave businesses some much needed breathing space – preventing the immediate tsunami of insolvencies many were anticipating.

With the world now in the midst of a global pandemic, businesses are facing disruptions across all aspects of their operations and in the marketplace. These disruptions are challenging for everyone in different ways — but for some businesses, it means confronting a very stark reality: heading into the zone of insolvency for reasons outside their control.

This month, ‘Safe Harbour’ legislation was passed offering protection to directors from insolvent trading exposure. Is this the big reform Australia that will encourage entrepreneurship and provide a platform to protect (or “harbour”) business value?