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$vuetify.icons.faPhone1300 650 620

Insolvency options to support small business

Small businesses in financial distress can now access a simplified debt restructuring process so they can more easily pay back outstanding debts.
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Small businesses with total liabilities of less than $1 million that are in financial distress can now access a faster and less complex restructuring or liquidation process.

The simplified debt restructuring process allows eligible small businesses to work with a Small Business Restructuring Practitioner (SBRP) to develop a debt restructuring plan. The plan provides a simplified process for businesses to pay back the debts they owe their creditors.

A simplified liquidation process is also now available to companies looking to wind up. It has been modified to reduce the reporting and investigative burden on businesses already in financial trouble.

This resource outlines how the simplified debt restructuring and liquidation processes work and what criteria need to be addressed to begin both processes.

It includes a number of helpful links to state-specific resources that can help businesses with free independent and confidential advice on managing debts and dealing with creditors.

Also included are additional links to the debt restructuring process and an Australian government fact sheet on the process.     

Access this resource now

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Non-Member price

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Member price

FREE

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Didn’t find what you were looking for?

Who is it for?

Building Professionals

This resource is designed for owners of small businesses in financial distress who want to develop a simplified debut restructuring plan or liquidation plan.   

What does it include?

  • The simplified debt restructuring process 
  • Which businesses are eligible for debt restructuring
  • The simplified liquidation process 
  • What criteria need to be met for the simplified liquidation process. 

Become a HIA member today

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