At O’Brien Palmer, we pride ourselves on being approachable and deeply committed to helping businesses find their way out of tough financial situations. Our director, Nathan Jammal, brings a unique combination of expertise and empathy to each client he works with.
Nathan’s background isn’t the typical “suit and tie” story you might expect from someone in insolvency. He breaks the mould of the stereotypical liquidator.
His clients find him relatable and grounded, a someone who has experienced both sides of the industry—working within insolvency and also directly managing businesses—Nathan understands the pressures directors face in their day-to-day operations and can bring these business skills with him when helping clients get through their financial issues.
A Story Close to the Heart: Helping a Plumber Keep His Business
One story that Nathan finds especially meaningful involves a plumbing business facing a daunting $800,000 ATO debt. The young director and his family, who are honest and hard-working but on the receiving end of some poor advice from their Accountant, were struggling with mounting tax debt and prioritising other bills rather than addressing tax payments. When the debt began spirraling out of control, the Small Business Restructuring (SBR) Process became their last hope.
Nathan sat down with the Director, got to know his situation, and created a realistic restructuring plan that the ATO were comfortable with. Through the Small Business Restructuring Process (SBRP), he was able to negotiate a 20 cents on the dollar payment arrangement for the ATO debt, allowing the business to settle the debt upfront without resorting to liquidation.
“This relief saved the Director from potentially losing his home and provided a second chance for the business, with a better plan to move forward soundly.”
Nathan’s success in helping this plumber preserve his business and provide for his young family is a story that speaks to his dedication but also compassion.
We’re Here to Help
If you’re feeling overwhelmed by debt and unsure about your options, Nathan and the team at O’Brien Palmer are here to guide you. We understand the pressures of running a business and are committed to finding solutions that work. Contact us today for a no-obligation chat about how we can help you navigate financial challenges and keep your business afloat.
And if you’d like some more information about the SBR process, we highly recommend you check out some of the videos and A4 download we have put together for it. Speak to us before it is too late to take advantage of this very good initiative, keeping businesses alive in difficult economic times.
https://obp.com.au/small-business-restructuring/
And our recent blog post on the Small Business Restructuring Process Update:
https://obp.com.au/2024/09/18/the-small-business-restructuring-process-update/
Consulting with an experienced advisor is crucial before making a decision. At O’Brien Palmer, we’re always here to discuss your situation and help you make the right choice.
Liam Bailey, Managing Partner
O’Brien Palmer
