Image for the article: A Complete Guide to Simplified Debt Restructuring

A Complete Guide to the Small Business Restructuring Process

Estimated reading time: 27 minutes

Simplified debt restructuring is a new process available as of 1 January 2021 to support financially distressed small businesses. In simplified debt restructuring, an independent professional known as a ‘small business restructuring practitioner’ is appointed to a distressed debtor company to assist with restructuring the company’s debt via development of a ‘restructuring plan’.

Safe harbour from insolvent trading

Navigating the insolvency safe harbour: Complete guide for SMEs

Estimated reading time: 32 minutes

The safe harbour is a carve-out to the duty of company directors to cease trading when a company is insolvent. It is a pro-business mechanism that helps companies stay afloat by giving directors protection from prosecution for insolvent trading while they work on a restructure. Read our guide to the safe harbour to find out more about this potential lifeline for insolvent companies.

Ilustration of zombie companies chasing cash

Zombie Companies: Is your business walking dead? Complete Guide for SMEs

Estimated reading time: 32 minutes

A zombie company is a business that barely scrapes by and is always short of cash. The problem with zombie companies is that they can be easily tipped over the edge into insolvency when something goes wrong. Read our article to learn more about the signs, symptoms and consequences of zombie companies.

Insolvency Revolution for SMEs

Insolvency Revolution for SMEs: Australia’s new ‘debtor in possession’ restructuring procedure

Estimated reading time: 9 minutes

The Government is using its currently massive political capital to push through a revolution in SME insolvency law in Australia. Their aim is to make the insolvency process less draconian for small businesses and, in the long term, encourage a more entrepreneurial culture. The changes foreshadow streamlined and genuine debt forgiveness outside of voluntary administration.

Voluntary administration

The Complete Guide to Voluntary Administration

Estimated reading time: 40 minutes

Voluntary administration is a process where a registered insolvency professional temporarily takes control of a business which is insolvent, or in financial difficulty. This professional, the ‘voluntary administrator’, takes away control from the directors, for a period of time, in order to assess the finances and determine the future of the business.

Hit pause on appointing a voluntary administrator during Covid-19

Hit pause on appointing a voluntary administrator during COVID-19

Estimated reading time: 5 minutes

The new Coronavirus Economic Response Package Omnibus Act 2020 (the Coronavirus Economic Response Act) has just come into force. This Act contains a range of new measures to support businesses through the Coronavirus/COVID-19 pandemic and its consequences.