How long does a WHOA process take?

Often a few months, depending on the complexity. Speed is important; we keep the momentum going.

Can I compel creditors to cooperate?

Yes, that is precisely the strength of the WHOA. Subject to certain conditions, a ratified agreement is also binding on those who voted against it.

Who is the WHOA intended for?

For businesses that are fundamentally viable but are carrying an excessive debt burden. We will assess whether you are eligible.

Is a going concern possible?

Often, provided you are well prepared. We will assess the options.

As a director, am I personally liable?

That depends on your actions. We advise you on how to minimise risks.

When should I raise the alarm?

As soon as you anticipate payment difficulties. The sooner you seek advice, the more control you will have over the situation.

What happens to current contracts?

Some of these can be amended or terminated. We can advise you on the options available.

Can I still avoid bankruptcy?

This is often the case, for example through the WHOA or a private settlement. We will assess your situation.

When should I consider restructuring?

As soon as you realise that you will no longer be able to meet your obligations. Acting promptly will improve your options.

Frequently asked questions