DJ Partners are engaged by companies who are in danger of being sold up by their banks. Our clients come from a variety of industries, including but not limited to, building, construction, mining, healthcare, superannuation, agriculture and manufacturing. Historically, our clients have debts over $10 million, they have multiple businesses and properties and a series of specific events has led their banks to enforce an event of default. Often our clients state that their bank has placed them into default and that they have limited time to refinance or sell their business or property. There are basic commercial and credit risk flaws to this strategy such as:
- You may have no intention of selling your business and you should not be forced to under duress if you have credit worthy options.
- You will likely find it extremely difficult to refinance when you are in default with your current bank and paying default penalty interest which
is evident to an incoming bank on your statements.
For example:
- Are you incurring a higher rate of default interest?
- Has Supreme Court Action commenced?
- Is the appointment of a Receiver or a Liquidator pending?
- Have statutory demands been issued to wind up your company?
- Are you behind with trade creditors or tax, which is now placing you in financial distress?
