Here are some frequently asked questions in relation to SBR. The process effectively provides an insolvent entity with a pathway to compromise its existing debts (i.e. creditors vote in favour of a proposed cents in the dollar return, with the remaining balance of debt written off) and to continue to trade under the control of its directors.
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Q1: What is Small Business Restructuring?
Small Business Restructuring (SBR) is a formal debt restructuring process introduced in January 2021. It allows eligible small businesses to restructure their debts with the help of a Small Business Restructuring Practitioner (SBRP or RP) while the business owners remain in control of…
