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SMALL BUSINESS RESTRUCTURING

The Process

Make an Appointment

Pre-appointment

  • Advisor assesses The Company’s health and prepares directors for the SBR process including Plan B if it fails
  • Ensures The Company is able to meet the eligibility criteria.
  • Consider Safe Harbour during this phase.
  • The Draft Plan and the cashflow prepared to ensure the proposal is realistic and affordable.

Proposal Period

  • Lasts for 20 business days after the SBR Practitioner is appointed.
  • Company not controlled by SBR Practitioner.
  • Creditors receive the draft plan early so they can comment on it. This provides feedback for developing the Final Plan.

Acceptance Period

  • Final Plan issued to Creditors.
  • Creditors can vote for or against the Final Plan.
  • Period open for 15 Business Days.

Plan Period

Maximum of 3 years.