Recently released data from ASIC outlines that the uptake of small business restructuring (SBR) appointments has significantly increased in 2024–25, with an overall positive sentiment and benefit.
An SBR process is the first external administrator appointment where directors are able to keep control of an insolvent company, rather than the appointed registered liquidator.
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ASIC said that it had released the 756 review of the small business restructuring process (REP 756) in 2022 and an updated SBR plan template in December 2024 – both of which caused a significant increase in the uptake of SBRs and SBR plans.
“The number of appointments has increased…