Section 155 of the Companies Act (2008) allows a company to restructure its financial affairs without entering business rescue. This means that your company can propose a compromise or arrangement of its financial obligations to its creditors, thereby easing it out of distress in an amicable fashion.
We can help you by drafting the proposal for a compromise, arranging and chairing the necessary meetings and applying to the High Court for an order to approve the proposal once it's been adopted by your creditors.
Analysis of the company's financial situation.
On completion of a preliminary proposal, the company formally engages with Regen Turnaround Solutions. The final compromise is drafted.
The compromise is distributed to creditors for approval. A formal meeting is held to discuss the compromise.
Once the creditors accept the compromise, it is sanctioned by the High Court. Regen Turnaround Solutions facilitates the application and engages directly with attorneys on the company's behalf.
Once sanctioned by the High Court, the compromise is implemented by the directors of the company.