Corporate & Business Restructuring
Corporate and Business Restructuring may be undertaken on a formal or informal basis, depending on the financial circumstances existing at the time. If a business is experiencing severe cash flow problems, it is often necessary to undertake a formal appointment such as Voluntary Administration to suspend creditors’ claims against the company while restructuring options are considered and implemented. This can also occur for individuals and partnerships under part X of the Bankruptcy Act.
Restructuring options are extremely varied and may include dealing with issues such as:
- review and replacement of existing management;
- identification of surplus assets;
- analysis of business operations to identify inefficiencies and better business practises;
- employee issues, including inefficiency and identification of surplus staff;
- conversion of creditors debt to equity;
- disposal or closure of non-performing business sectors or products;
- implementation of sound financial controls including credit policies, debt collection procedures, reporting, etc;
- assessment of asset protection strategies to minimise risk to trading assets and the assets of the business owners;
- analysis of merger, acquisition or disposal options;
- identification and assessment of potential legal risks; and
- refinancing options.
Corporate and Business Restructuring options can often be considered without the need for a formal insolvency appointment. This will be dependent on the financial circumstances at the time. In many instances the restructuring options should be considered before a business experiences financial difficulties, to ensure the business is operating efficiently and maximising profits, while at the same time maximising asset protection strategies.
Often business owners believe their business is operating at maximum efficiency, but lack the independence to conduct a fair assessment of the issues.
This is where WA Insolvency Solutions can provide independent analysis and work through the issues with owners and management to identify and implement strategies for business improvement.
WA Insolvency Solutions has extensive experience in restructuring ranging from small family businesses to publicly listed companies.
For further information regarding corporate and business restructuring please contact our office.
Whether you are looking for help with your company, business or personal affairs, we can help you find a solution for your financial problems.