Small Business Restructure

At Stragans, we specialise in guiding small businesses through financial distress by offering expert restructuring services. Here's what you need to know:

What is Restructuring for Small Businesses?

Restructuring is a process designed for small businesses facing financial difficulties. It allows eligible companies to:

• Retain Control: Keep control over your business operations while developing a recovery plan.

• Restructure Debts: Propose a restructuring plan to manage and restructure your debts with the help of a restructuring practitioner.

Eligibility Criteria for Restructuring

Before engaging in restructuring, your company must meet specific criteria:

• Liability Limit: The total liabilities of the company must not exceed $1 million on the day of the restructuring practitioner's appointment.

• Directorial History: Directors must not have been involved in another company undergoing restructuring or simplified liquidation within the last seven years, unless exempted by regulations.

• Recent Restructuring: The company must not have undergone restructuring or been subject to simplified liquidation in the past seven years.

Exemptions include:

• If the other company is a related body corporate.

• If the other company's restructuring or liquidation process started no more than 20 business days before your company's process.

Need Assistance?

Engaging with a restructuring process can be complex. At Stragans, we provide tailored advice to navigate these waters. Whether you're considering restructuring or need to understand your options better, contact us for professional guidance.