[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text][rt_reading_time label="Reading Time:" postfix="minutes" postfix_singular="minute"] [/vc_column_text][vc_column_text]Restructuring a viable but insolvent company will usually involve formulating a proposal to creditors, either informally or via a formal insolvency process. Informal Proposals Informal proposals to creditors are more likely to be successful when: creditors with small amounts due are paid in full. This enables the directors to focus on negotiations with major creditors; the directors are upfront with...

[vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text][rt_reading_time label="Reading Time:" postfix="minutes" postfix_singular="minute"][/vc_column_text][vc_column_text]With the stimulus and protection measures introduced by the Federal Government coming to an end, companies may face pressure from creditors once again. Any prudent director of a company facing financial difficulties should seek the advice of their accountant or solicitor before taking any steps to address financial difficulty. Where appropriate, the expertise of a suitably qualified insolvency professional...

[rt_reading_time label="Reading Time:" postfix="minutes" postfix_singular="minute"] Many businesses have managed to survive in the COVID impacted economy by: [vc_row css_animation="" row_type="row" use_row_as_full_screen_section="no" type="full_width" angled_section="no" text_align="left" background_image_as_pattern="without_pattern"][vc_column][vc_column_text] transforming their businesses to operate in an online environment; relying on indulgences from creditors (landlords, suppliers, ATO); taking advantage of Federal and State Government stimulus measures. So what happens in late September 2020? September 2020 will be a critical month for many businesses and the economy in general. In...