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Small Business Restructure

Small Business Restructuring Experts

What does restructuring mean for companies operating small businesses & experiencing financial difficulties?

The restructuring process allows eligible companies to:

retain control of the business, property, and affairs of the company while it develops a plan to restructure the company’s affairs with the assistance of a restructuring practitioner enter into a restructuring plan with creditors.

What are the eligibility criteria for restructuring?

To be eligible for a restructuring, on the day on which the restructuring practitioner is appointed:

total liabilities of the company must not exceed $1 million no person who is a director of the company, or who has been a director of the company within the 12 months before the appointment of the restructuring practitioner, has been a director of another company that has been under restructuring or subject to the simplified liquidation process within the period of the preceding seven years, unless they are exempt under the regulations the company must not have undergone restructuring or been the subject of a simplified liquidation process within the preceding seven years

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