CP 372 Guidance on insolvent trading safe harbour provisions: Update to RG 217 Submission
This submission concerning CP 372 Guidance on insolvent trading safe harbour provisions: Update to RG 217 is made by the Insolvency and Restructuring Committee of the Business Law Section of the Law Council of Australia (the Committee).
The Committee is made up of experienced senior legal practitioners working in the insolvency and restructuring market. This response deals with Part B2 of Consultation Paper 372, and only addresses questions directed to that part. As a broad observation, it seems to us that ASIC’s guidance to directors on insolvent trading (Part B1) does not require further amendment.