Corporate restructuring is a complicated area and can involve a range of possible solutions. But it is not a-one-size-fits-all situation. You need experienced restructuring professionals who know the tricks and traps of the processes.
Voluntary Administration can be an excellent solution for a company in financial difficulty. VA provides a company with a one month breathing space to negotiate with creditors to arrive at an agreement to save a business.
Company Restructuring is a process where a company develops and implements a restructuring plan to improve its financial position to save the business. It will involve improvements in business operations and works with some or all of a company’s creditors. The restructuring process need not follow any set formula or timing.
A new formal restructuring process was introduced in 2021 specifically designed for small companies. It is simpler, quicker and cheaper than Voluntary Administration. It allows a small businesses to restructure its debts while the directors remain in control of their business.
Debt Negotiation – Bank /
ATO / Creditors
Often a company has an optimistic trading outlook but is struggling under a debt burden from the past. Where there are only a few major creditors (such as a Bank, the ATO or a major trade creditor) then negotiation directly with those creditors is the best option.
If you are struggling to obtain a bank roll-over of your business debt, and your Broker can not obtain a refinance elsewhere, then you are in need of a specialised skill set that can deliver a refinancing, a haircut for the bank and possible some other innovative debt structuring.
Safe Harbour Protection allows directors to address a company’s financial difficulties behind-the-scenes. Directors can get on with dealing with a restrurturing whilst avoiding being personally liable for company debts under insolvent trading laws.
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Where do you turn when things start to go wrong?
Until now there hasn’t been a one-stop-shop for a director to get a practical understanding of their situation and the solutions available.
At Restructuring Works, we focus on the issues facing the decision maker – the company director.
Watch the video to hear from one of our Restructuring Experts.
Our professional memberships
Association of Independent
Board Member in-house
Australian Restructuring Insolvency & Turnaround Association