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Small Business Restructure Services | Rodgers Reidy

At Rodgers Reidy, we're here to provide you with specialized small business restructuring services. Our team of experts is dedicated to helping businesses like yours overcome financial challenges and achieve sustainable growth. Give us a call today and let us assist you on your path to success!

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Small Business Restructure Services | Rodgers Reidy

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  1. SMALL BUSINESS RESTRUCTURE SERVICES | RODGERS REIDY Rodgers Reidy offers specialised small business restructuringservices. Our expert team helps businesses navigate financial challenges for sustainable growth. SBR Eligibility Checklist WHAT IS IT? In January 2021, Small Business Restructure (SBR) were implemented to avoid an expected tidal wave of insolvency post-COVID and to keep businesses trading and avoid liquidation. Is the company insolvent or likely to become insolvent?’ Are tax lodgements up to date? Are employee entitlements up to date? * Are liabilities under $1 million, excluding employee entitlements? Company has not been subject to a simplified liquidation or SBR in the previous 7 years? Directors, including former directors acting in the preceding 12 months, have not been involved in a simplified liquidation or SBR in the previous 7 years? Is the entity incorporated under the Corporations Act 2001? The SBR process provides directors and the company time to put forward a plan to creditors to pay their liabilities an amount less than 100 c/$, all while retaining control of the company under the supervision of an SBR Restructuring Practitioner (SBR RP). PHASES IN AN SBR There are 2 distinct phases in an small business restructuring process, the Restructure Phase and then the implementation of the Plan itself. RESTRUCTURE PHASE PLAN PHASE SBR RP SBR RP Consents to transactions. Assists the company in developing and preparing a restructure plan. Makes reasonable enquiries to verify the company’s business. Verifies debts and claims and deals with any debt disputes. Company Receives amounts under the plan. Makes payments to creditors under the plan. Monitors and reports contraventions under the plan. Company Continues to trade and is responsible for any debts incurred. Makes payments required under the plan. Continues to trade and is responsible for any debts incurred. Works with the assistance of the RP to develop a plan. Retains its advisors as part of its normal business. rodgersreidy.com 1300 747 577

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