The administration process is stressful, your outcome is our priority, and you will have our undivided attention. At Brisbane Debt Solutions, we care about you and we care about getting the best outcome for your business.
Administration is where a business entity is unable to pay back their debts to the creditors when it falls due thus leading to a situation of Bankruptcy. If your business is running at loss and you foresee insolvency, this situation may seem to be out of hands.
But it is never too late to opt for external administration and take help of professional advisors who can save your business and help you buy some time from your creditors.
Administration can be voluntary that is self-opted or can be imposed by the court. In either case, the appointed Administrator is a licensed practitioner who helps the company in saving the business by:
Bringing the company to a situation where either it can pay off its debts by cutting the corner on management related expenditures
Makes decisions that enable the company to pay off its debts without going straight into liquidation
Bridges the gap between creditors and business owners and helping them by out some time from the investors
Takes necessary decision for the welfare of creditors and business
Once you opt to appoint an administrator, he temporarily gains full control of the company from the directors. This handover to the administrator gives him a number of powers that enable him to make important business and financial decisions to do everything necessary to sustain or dissolve the business.
At Brisbane Debt Solutions we understand that for any business, administration can be an intimidating process, so we prioritise deep analysis and provide the best possible solutions to sustain the business.
So, if you think your business is facing a financial crisis? Are you planning to close your business as the only solution? Are you unable to pay your creditors in time? Do you want to analyse your options before you take the final decision?
If the answer to any of these questions is a yes, then give us a call at 1300 88 70 93 or write to us by clicking here. And one of our experienced practitioners will get in touch with you to guide you through our expert solutions for your business model.