Ben Sewell

Business growing pains diagram

Client Journey: Business growing pains and how to get through them

Estimated reading time: 0 minutes

Most growing business will run into some challenges relating the growth. Here we take a deep dive into these business ‘growing pains’ and look at what small business owners can do to get through them.  In article: The challenge of…

Old style accountant desk, papers and old computer vs new style, desk with laptop and no papers

Client Journey — How to get your accounting processes back on track

Estimated reading time: 6 minutes

Sound bookkeeping and accounting practices are crucial to the success of a business, but too often are neglected by small business owners. The company’s financial records are the ultimate scorecard for any business.  Why is accurate financial information so important?…

Breach of trust - corporate trustee breaches duties

Breach of Trust: Definition and Recent Case Law

Estimated reading time: 16 minutes

In a trust, a trustee has strict obligations to beneficiaries. These are either set out in the trust deed, or apply via operation of law. Where a trustee does not act in accordance with those obligations there is a ‘breach of trust’. Here we take a deep dive into the concept of a breach of trust, and examine some recent case law.

An image of a puzzle being put together, with pieces representing different SBRP eligibility requirements

Does your insolvent business qualify for the Small Business Restructuring Process?

Estimated reading time: 4 minutes

2021 introduced sweeping changes to Australia’s corporate insolvency laws with the introduction of the Small Business Restructuring Process (SBRP) under Part 5.3B of the Corporations Act. This innovative restructuring process aims to give struggling small businesses a lifeline by enabling them to restructure their debts and bounce back more resiliently whilst leaving directors in control of their own business. This blog post explores the key hurdles to qualification for restructuring under the SBRP. 

Creditor-in-possession versus debtor-in-possession

Why is the Small Business Restructuring Process a debtor-in-possession model, and why does this matter?

Estimated reading time: 5 minutes

The introduction of the Small Business Restructuring Process in the Corporations Act has marked a significant shift in Australia’s approach towards company restructuring. Essentially, it moves towards a debtor-in-possession model, a concept that might appear foreign within the traditional creditor-in-possession system of Australia. Understanding why this change has occurred and its implications is critical for businesses navigating restructuring scenarios.

Client negotiating costs with the restructuring advisor

Understanding the Cost of the Small Business Restructuring Process: Professional Fees

Estimated reading time: 5 minutes

Small business restructuring is a complex process that entails two levels of professional fees. However, compared to other forms of external administration, the pricing for restructuring is more straightforward and generally lower. In this blog post, we will explore the different types of fees involved in the Small Business Restructuring Process (SBRP) and shed light on the factors that determine their amounts. Additionally, we will discuss the role of third-party professionals and the potential need for their services to support the small business restructuring process.

Accountant sorting company documentation for SBRP, between boxes with receipts and bank statements.

Essential checklist for accounting records before undertaking a Small Business Restructuring

Estimated reading time: 10 minutes

Accounting records play a vital role in any business, serving as the foundation for financial reporting, decision-making, and compliance. As a business prepares for a Small Business Restructuring Plan (SBRP), it is crucial to ensure that its accounting records are accurate, complete, and well-organized. In this blog post, we provide a comprehensive checklist to help an insolvent company to review and assess its accounting records before initiating an SBRP.