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In 2021 the federal government introduced the Small Business Restructuring (‘SBR’) regime in response to COVID-19 business closures as a way to limit business failure and enable businesses to restructure their debts whilst continuing to trade with the existing owners operating the business.

Under an SBR the Company appoints a Restructuring Practitioner who works with the Directors to develop a Restructuring Plan to enable the Company to restructure its affairs and clear its debts via a payment to creditors that is less than 100 cents/$.

Following approval of the plan by the Company’s creditors all creditors are bound by the terms of the plan and the Restructuring Practitioner monitors performance of the plan on behalf of creditors. 

How it works:

To find out how the SBR process works we have a short fact sheet that outlines the process.

Here are some case studies of businesses we’ve helped with the SBR process

Psychological Services Business

  • The company had significant ATO Debts
  • A SBR was implemented that enabled the company debt to be compromised while the control of the company remained with the director
  • The company continued to trade whilst it restructured its balance sheet
  • Creditors approved restructuring plan to compromise their debts
  • Dividend paid to creditors

Labour Hire Company

  • Labour Hire Company in the construction industry was hampered by the collapse of a related entity
  • Main creditors were statutory creditors
  • A restructuring plan was develop by compromise creditors claims and restore the balance sheet
  • The approved restructuring plan enabled the company to continue with a restructured balance sheet

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