JOBA Management Services are experienced intermediaries who will seek to build an understanding between the Company (and its stakeholders) and its creditor/s to the mutual benefit of all parties.

The introduction of a professional intermediary will often be welcomed by creditors as it will encourage objective discussion without the inherent emotions.

Upon engagement, JOBA Management Services will seek to:

• Re-negotiate payment terms with the creditor/s; or

• Present a case for the settlement of the debt for a lesser amount.

In relation to dot point 2 it is premised on a transparent view of the client's financial position being presented to the creditor/s projecting the likely return to creditors in a liquidation scenario. We suggest that it includes  an independent statement signed off by a registered liquidator. In turn, a commercial offer is made in excess of the likely dividend in a liquidation scenario. Practically, such proposals become more difficult as the number of creditors increase. This is because it requires the agreement of all creditors to work.

A successful informal process such as this will reduce costs for debtor and creditor, improve financial outcomes for all stakeholders and avoid the stigma and commercial inconvenience that creditor litigation and terminal administrations create.