Small Business Restructuring (Part 5.3B)
Form number: Form 5108 / Restructuring Plan
A streamlined debt-restructuring process introduced January 2021 for small, financially distressed but viable companies. Available where total liabilities are under $1 million, employee entitlements and tax lodgements are up-to-date, and no related entity has used it in the past 7 years. Directors stay in control while a Small Business Restructuring Practitioner (SBRP) helps draft a plan.
Official source
asic.gov.auRelated topics
small business restructuringsbrpart 5.3basicsbrpdebt under 1mrestructuring plansmall business debt restructurecompany in financial difficultybusiness rescue planavoid insolvencycompany debt under 1 millionrestructure company debtbusiness turnaroundsave my business from collapsecompanyabnbankruptcydebt agreement
Related forms
- ASIC Form 484 — Notification of Company ChangesForm 484
- ASIC Form 6010 — Voluntary Deregistration of a CompanyForm 6010
- ASIC Form 524 — Presentation of Accounts and Statement (Winding Up)Form 524
- Members Voluntary Liquidation (MVL)Form 520 / Form 205
- Creditors Voluntary Liquidation (CVL)Form 205 / Form 509
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