There are positive and 'formal legal' steps that your client can take prior to formal insolvency that can go a long way to protecting their business. There is no disadvantage to undertaking this process (if it is done properly and with the constraints of the law). The upside can offer substantial financial savings and, where there is real potential for a viable business, we can also explore funding options that will enable the business to trade back to health.
Lightspeed Finance are Australia's leaders in short term business and investment finance.
Having built a reputation as a short term specialist we work with clients to tailor a suitable short term loan for all business needs.