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Financial plan

What is a financial plan?

If the debtor is seeking to enter into a self-administered restructuring proceedings, they must, when applying for the opening of the restructuring procedure, submit, in addition to a detailed restructuring plan, a financial plan, a statement of assets and a status report, amongst other things.

This financial plan is a comparison of projected income and expenditure over a period of 90 days, setting out how the funds required to continue the business and to settle claims against the estate are to be raised and used.

 

Learn more about our insolvency and restructuring division. Please feel free to contact us for further information.