This article was co-authored by Kylie Shaw.
Why this matters
Australia’s small business restructuring (SBR) regime was introduced on 1 January 2021 to give financially distressed small companies a faster, cheaper alternative to voluntary administration, and, crucially, to let directors stay in control while a registered liquidator (the “restructuring practitioner”) supervises the process.
ASIC’s first review (REP 756, January 2023) examined the 82 SBRs commenced to 30 June 2022. Its follow up, Report 810: Review of small business restructuring process 2022-24 was issued in June 2025, it analyses every SBR appointment between 1 July 2022 and 31 December 2024 (3,388 in total) and 1,260 finalised plans. The report…