Business Proposals

Launching a Business Proposal (Division I Proposal) is a statute mandated method of   making a compromise or restructuring of the debts of a business. If a Proposal is approved at a meeting of creditors by special resolution and subsequently approved by the Court, the terms of the Proposal become binding on all creditors. If the Creditors reject a Division I Proposal , the debtor is deemed to be bankrupt. We can advise you on this method of restructuring debt as well as other legislated methods such as The Companies Creditors Arrangement Act.

Key Benefits

• A Notice of Intention filing followed by the filing of a Proposal creates a stay of proceedings against your creditors until a meeting of creditors is held.
• Permits a debtor to make a proposal to all creditors that permits the business to be restructured or wound up in an orderly fashion.
• Once Approved, a Proposal is binding on all creditors.

Capabilities

Each of our Partners offers expertise and knowledge to the creation and delivery of successful Division I Proposals, including Manufacturing, Retail and other businesses.

Other Pages on this Site that may be of interest to you...

Business Services

Business Review and Monitoring Services

Agency and Receivership

Companies Creditors Arrangement Act

Business Bankruptcy

Personal Bankruptcy

Assets Currently Available for Sale

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