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Commencement of simplified debt restructuring programme

Insolvency, Restructuring and Dissolution (Simplified Debt Restructuring) Regulations 2021

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For the purposes of sections 72E(2)(b) and 72J of the Act, a company must submit the following information and documents (as applicable) to its Restructuring Adviser for the Restructuring Adviser to assess whether the company meets the requirements under section 72F(1) of the Act to enter into, or remain on, the simplified debt restructuring programme:(a)the name and address of each creditor of the company and the amount owed to that creditor;(b)a description of the company’s current business activities;(c)a description of the company’s intended business activities for 12 months following the company’s entry into the simplified debt restructuring programme (which may include the company’s current business activities);(d)the latest available accounts of the company, including its profit and loss statements, balance sheets and cash flow statement;(e)the projected cash flow of the company for 30 days following the company’s entry into the simplified debt restructuring programme;(f)any other information that may be required by the Restructuring Adviser.

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