From www.pkf.com.au: PKF has successfully facilitated another Small Business Restructure, helping a construction company reduce its accumulated taxation debts by over $700,000 and secure creditor approval for its restructuring plan.

The SBR process proved beneficial, allowing for a more certain return to creditors compared to liquidation options, with creditors receiving approximately 20 cents on the dollar within four months.

Key actions included resolving legal claims and converting the director’s loan account from debt to equity, leading to improved cash flow and financial stability for the company.