Restructuring and Turnaround
We advise on all aspects of restructuring and turnaround:
- Crisis stabilisation
- Renewed Focus on Leadership & Top Management
- Stakeholder Management
- Re-invigorating Strategic Focus
- Streamlining Operations & Processes
- Business Development & Change
- Financial Restructuring, Budgeting & Forecasting
Informal Workouts, Stakeholder Management and Safe Harbour Protection for Directors
Informal Workouts operate outside of formal insolvency regimes; such as liquidation and bankruptcy. Examples include negotiations, recapitalisation, debt agreements and payment plans - designed to maintain a businesses reputation by preserving goodwill.
Safe harbour provides personal liability protection for directors from insolvent trading liability. It is not an insolvency regime so is not made public and there is no court involvement.
Directors can retain control of a financially distressed company by taking reasonable steps to trade out of difficulties. Safe Harbour was introduced to encourage entrepreneurship, innovation and risk.
Crisis Management, Business Fortification and Transformation
Risk management and decision making is becoming more challenging. In a crisis, businesses should seek external specialist advice to protect against failure and liability. With a track record in business fortification, transformation and renewal, we confidently tackle the multiple and complex issues that present in times of crisis and uncertainty.
Australia Embraces a 'Rescue Culture'
The corporate insolvency landscape is changing.
While the numbers of formal insolvency appointments have not increased dramatically since the Global Financial Crisis, the dialogue surrounding financial distress and the methods to address it have moved away from formal insolvency appointments to restructuring and turnaround before financial distress becomes insolvency.
Insolvency proceedings, such as receivership, liquidation and even voluntary administration (which has a stated purpose of trying to save businesses) carry a stigma of failure, which makes trading on as a business more difficult and reduces creditor confidence in the potential to save the business through a formal restructuring.
Jason Harris. Class warfare in debt restructuring: Does Australia need cross-class cram down for creditors' schemes of arrangement? [online]. University of Queensland Law Journal, The, Vol. 36, No. 1, 2017: 73-97.
Take action & make contact
If you are in need of advice regarding your business, please contact us ASAP for a free confidential consultation.