Small Business Restructuring: we help you navigate the maze
As Small Business Restructuring Practitioners, our Registered Liquidators ensure you benefit from the insolvency reforms.
Jirsch Sutherland’s Registered Liquidators have vast experience in restructuring small businesses and are legally able to act as Small Business Restructuring Practitioners (SBRPs) for viable but financially distressed companies with total debts not exceeding $1 million, as per the Corporate Insolvency Reforms that came into effect on January 1, 2021.
With a Jirsch Sutherland SBRP, you can benefit from the reforms, which are designed to help COVID-19 impacted companies recover, by offering simpler, faster and lower cost debt restructuring and liquidation.
Acting as your SBRP, a Jirsch Sutherland SBRP will liaise with your creditors, conduct an investigation of your company’s financial situation, and prepare and present a restructuring plan to your creditors within the tight 20-day timeframe. While this takes place, you are able to stay in control of your company and continue to trade, giving it a better chance of recovery. If the plan is accepted by at least 50 per cent of your creditors by value, your SBRP also actions it. You also have peace of mind knowing you and your company will stay compliant during this process as, with any legislation, the insolvency reforms come with a myriad of complex requirements and regulations, particularly eligibility criteria.