Eligibility criteria for Small Business Restructuring
The Small Business Restructuring Process
The process means the least amount of disruption to the businesses we work with, and we try to leave as little for the client to do as possible during the restructure. Much of the timeline is mandated by the scheme and we work hard for the fastest, and best, possible resolution.
Set Timeline
The planning process takes a maximum of 20 business days.
Creditors
Creditors then have 15 business days to make their decision and vote.
Plan Acceptance
Once creditors accept the plan, the small business restructuring process comes to an end.
Your Business Future
You may have successfully altered the future of your company in just 35 days.
That means you have the potential to dramatically affect your outstanding creditors of up to $1 million in just 35 days.
Expected Outcome
Our team can assist you to develop a restructuring plan and propose it to creditors.
- During the process the business operates as normal with you directing the Company.
- Our Small Business Restructuring Specialists will inform you as to any limitations prior to commencement.
What will your plan include?
- Details of the plan are up to you and what you consider the company can afford to pay creditors.
- Depending on the state of your finances your proposal may be only cents in the dollar. The legislation also allows you to offer up to a 3 year payment period.
If you want to find out if you’re eligible for the Small Business Restructuring process, contact us to discuss your options today
Could a Small Business Restructure save your business?
If you are one of the thousands of business in Australia battling to
succeed, maybe we can help.
Liability limited by a scheme approved under Professional Standards Legislation. ^All figures and averages are based off SBR Specialists actual totals and are correct at time of distribution.