We are seeing more non-bank and private credit lenders take equity in their borrowers, either directly or through options over shares in the borrower.

The Federal Court has held that directors of Mosaic Brands had their own privilege over the safe harbour advice they obtained – and then lost it. The liquidators can now use that advice when they investigate the directors. Directors relying on safe harbour should look at how their advice is held, circulated and minuted now, not when an administrator asks for it.

On 9 October 2026, ASIC released updated guidance for liquidators who ask ASIC to make orders reversing “creditor-defeating dispositions”: transfers of company property at undervalue that keep assets away from creditors.

The lesson for lenders and security trustees is simple: handing registration to someone else is not the same as making sure it happens.

去年倒闭的澳大利亚公司有所减少。但这并不意味着董事们可以掉以轻心。

Fewer Australian companies failed last year. That’s no reason for directors to relax.