Corporate Restructuring Services in Vancouver & Surrey
If your business is facing financial challenges in Vancouver, Surrey, or surrounding areas, you should consider building and executing a strong corporate restructuring plan. A customized restructuring will help you rise above financial obstacles and increase the organizational performance of your business. With the right guidance, you can restructure your business so you feel confident managing financial crunches- no matter how major they may be.
With over 60 years of experience, our team of Licensed Insolvency Trustees can support you in developing legal, procedural, and accounting strategies. Our trusted advisors offer reliable consultation on valuation, funding, taxation, stamp duty and competitive landscapes. Contact us to enhance your business valuation and improve your overall financial performance.
Formal Restructuring Services
When businesses decide to redevelop their foundational structures, many may turn insolvent when not equipped with proper financial recovery tools. To manage and overcome complicated and major financial crunches, it is crucial to hire the services of a licensed insolvency practitioner who can recommend formal restructuring strategies.
Formal Restructuring under the BIA
This comprises filing for creditor protection according to the Bankruptcy & Insolvency Act (“BIA”). Applicable to organizations of all sizes, restructuring under the BIA creates a binding contract between you and your creditors that is tailored to your company’s specific financial situation.
Formal Restructuring under the CCAA
This comprises filing for creditor protection according to the Companies' Creditors Arrangement Act (the “CCAA”). Companies with a minimum of $5 million in creditor claims can engage in a CCAA proceeding. Under this type of restructuring, the CCAA plan of the arrangement must be approved by the court.
Informal Restructuring Services
An informal restructuring or workout will generally be available to companies with minor debts or those in less complex situations commonly involving only one large creditor. In cases where the level and complexity of a company’s debt are not significant, an informal proposal or workout may be an affordable alternative to a Division 1 Proposal. This option is often a reasonable method of settling debts where the principal borrower has filed an assignment in bankruptcy, the guaranteed debts are few in number, and the likelihood of the unsecured creditors in the bankruptcy receiving a dividend are low.
Role of a Licensed Insolvency Trustee
When working with our team of Licensed Insolvency Trustees (LITs), you can expect expertise and sincere support. Our role as your LIT is to administer your restructuring proposal and support your business in regaining financial stability.
Did You Know that only a LIT is authorized to file your proposal under the BIA or CCAA and provide you with guidance in this situation.
Discuss Your Corporate Restructuring Options
Get effective, dependable corporate restructuring services at Crowe MacKay & Company. Contact us or complete the form below, and one of our Licensed Insolvency Trustees will guide you through the restructuring process and help you improve your company’s structure.
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