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What our clients say about us
Our numbers only tell half the story, below are comments from recent clients we’ve helped
David
“Working with Jirsch Sutherland was a significant positive step for our business during its restructuring phase. Their team was notably easy to collaborate with, offering a level of approachability and adaptability that was much appreciated. They demonstrated a deep understanding of the complexities involved in small business restructuring, guiding us through each phase with ease and ensuring we were well-informed.
What really made a difference with Jirsch Sutherland was their effective communication. They maintained regular contact with us, making sure we were always aware of the next steps and what was expected from us. This consistent communication helped build a foundation of trust, crucial for the successful restructuring of our business. With Jirsch Sutherland's guidance, we were able to address our challenges with a clear strategy, helping us to become more streamlined and focused. We're thankful for their expertise and the support they provided during a critical time for our business.”
Rachael
"The SBR process was very useful with getting my financial world back on track. The process was well explained and was an efficient and moral way of trying to control the debts I had accumulated. I would recommend it to anyone who has been in business over the last few years and gained debts due to the external factors that have affected us all. The Team at Jirsch Sutherland were very professional and great to deal with throughout the process."
Robert
“Facing significant challenges from the COVID-19 pandemic, my fashion retail business was in a precarious position. High debts and disrupted supply chains made survival seem uncertain. Thanks to Jirsch Sutherland, recommended by Kelly Partners, we found a way forward. Their understanding, professionalism, and effective negotiation led to a manageable Small Business Restructure with the ATO, enabling us to address our financial difficulties and focus on recovery. I appreciate Jirsch Sutherland's practical and empathetic approach and recommend their services for businesses facing similar financial issues.”
Tom
“The SBR process was better than I expected. The Company retained full control of the operations throughout the process and the outcome was exceptional, resulting in a significant reduction of our legacy debts. With Andrew’s help, we were able to provide a clear message to our creditors regarding our business’s difficulties and how they have been overcome. The SBR saved my business."
SENIOR EXPERTS
Your case managed by senior experts
Our senior experts possess immense industry knowledge and experience to get you the best results possible
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Andrew MattinsonHaving previously worked in the financial services and not-for-profit sectors, Andrew has strong commercial acumen and the ability to provide clear strategic insights, which he applies to his formal and informal assignments. Andrew Mattinson |
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Hanzel HizolaHanzel has vast experience in corporate and personal insolvency. His expertise and experience span a range of sectors including building and construction. Hanzel Hizola |
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Michael ChanMichael has a strong understanding of and experience in insolvency and system administration. Michael Chan |
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Paul PattisonPaul has practiced as an insolvency advisor since 1983. During this time Paul was a Partner of Ernst & Young (including a predecessor firm) for 14 years before embarking upon his own practice in 1997. Paul Pattison |
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Peter BrownPeter is known for working with clients to consider all options with a view to maximising the return to creditors while minimising the financial and emotional stress experienced by those facing financial difficulties. Peter Brown |
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Tina BattyeTina is a genuine professional and gives every matter, whether big or small, the same high level of expert attention to detail. Tina joined Jirsch Sutherland in 2009 and is a valuable senior manager in our Newcastle office. With over 15 years’ corporate insolvency experience, Tina has worked on a vast number of high profile administrations during her career. She has a very strong work ethic and prides herself on her efficiency and insolvency expertise. Tina Battye |
SBR FAQS
Your questions answered
It is an agreement between your company and your creditors. There is no set plan, which means they are able to be very flexible. Usually, these plans involve a one-off contribution from someone such as a director, which is paid to creditors by the restructuring practitioner.
Your SBR practitioner, in consultation with you, has 20 business days to draft a restructuring plan that your creditors will vote on (This can be extended by up to 10 business days). Once presented, your creditors then have 15 business days to accept or reject it. While they are deciding, your business can continue to trade.
All unsecured debts that were incurred prior to your company entering restructuring are included, with the exception of employee entitlements that are not yet payable, such as leave and redundancy payments. If your company incurs debts after it enters restructuring, these debts do not form part of the plan and need to be paid off outside the plan.
Yes. The business must pay any employee entitlements which are due and payable before a
plan can be proposed to creditors.
Eligibility must satisfy these conditions:
- Total debts not exceeding $1 million
- Be insolvent or likely to become insolvent
- Employee entitlements are up to date
- Tax Office lodgements are up to date. Note you can still have money outstanding
- The company must not have previously used the small business restructuring process or the simplified liquidation process within the past 7 years
Use our Eligibility Checker
Alternative solutions might be possible such as:
- Safe Harbour
- Voluntary Administration
- Creditors Voluntary Liquidation
Best to contact one of our experts to discuss your options.
If your plan is rejected, then the restructuring process is over. While you remain in control of your company, your creditors are able to enforce their rights. Your protection from liability for insolvent trading also ends. Your options now include voluntary administration or liquidation.
The fee of the Restructuring Professional for developing the restructuring plan and liaising with Creditors about the SBRP is agreed and fixed up-front.
First you appoint a small business restructuring practitioner who needs to be a registered liquidator. They will act on your behalf during this process and ensure you are compliant with the following:
- Employee entitlements that are due have been paid, excluding leave and other entitlements not currently due to be paid.
- Tax lodgements are up to date.
What our clients say about us
Our numbers only tell half the story, below are comments from recent clients we’ve helped
David
“Working with Jirsch Sutherland was a significant positive step for our business during its restructuring phase. Their team was notably easy to collaborate with, offering a level of approachability and adaptability that was much appreciated. They demonstrated a deep understanding of the complexities involved in small business restructuring, guiding us through each phase with ease and ensuring we were well-informed.
What really made a difference with Jirsch Sutherland was their effective communication. They maintained regular contact with us, making sure we were always aware of the next steps and what was expected from us. This consistent communication helped build a foundation of trust, crucial for the successful restructuring of our business. With Jirsch Sutherland's guidance, we were able to address our challenges with a clear strategy, helping us to become more streamlined and focused. We're thankful for their expertise and the support they provided during a critical time for our business.”
Gavin
“The SBR process was better than I expected. The Company retained full control of the operations throughout the process and the outcome was exceptional, resulting in a significant reduction in the legacy debts. With the help of Andrew, we were able to provide a clear message to our creditors regarding our businesses difficulties and how they have been overcome. The SBR saved my business. ”
Terry
“The SBR process was very useful with getting my financial world back on track. The Process was well explained and was an efficient and moral way of trying to control the debts I had accumulated. I would recommend the SBR to anyone who has been in business over the last few years and gained debts due to the external factors that have affected us all. The Team at Jirsch Sullivan were very professional and great to deal with throughout the process.”