Investor Presentaiton
THE INSOLVENCY PROCESS
The Insolvent Person
Communicates with OSI
And a Trustee is selected
from OSI list of Trustees
Trustee submits Notice of
Intention to the OSI after
consulting with Debtor
Stay of proceedings commences
- creditors unable to make
claims against the insolvent
person
Trustee makes the relevant
submissions to OSI for
Review -
Cash Flow Statement and
Report and inform the
Creditors
Creditors Meeting
Resolution:
Proposal Accepted/
Amended by Creditors
Trustee provides a copy of
the Proposal to ALL
Creditors
Trustee together with
Insolvent Person prepares a
Proposal and submits to OSI
for review for
reasonableness and
achievability
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Court Hearing Application
and documentation to aprove
Proposal
The Proposal is executed by
the Trustee
Proposal NOT accepted the
insolvent person "pushed"
into Involuntary Bankruptcy
The Insolvent Person is
Discharged after the terms
and conditions of the
Proposal are completedView entire presentation