Hospitality · NSW
A$2M-2.5M ato debt refinance arranged, settled in 2 weeks
Overview
A hospitality business was carrying a multi-million dollar ATO debt after defaulting on its payment plan. With a DPN and garnishee notices in play, the debt needed to be cleared quickly. ATO debt accrues General Interest Charge, which compounds daily, so the balance grows the longer it sits.
The problem
The business had defaulted on its ATO payment plan and was facing a Director Penalty Notice (DPN) and garnishee notices.
What Finstead arranged
Arranged a private credit refinance to clear the ATO debt in two weeks.
Deal at a glance
- Industry
- Hospitality
- Location
- NSW
- Facility
- ATO debt refinance
- Amount band
- A$2M-2.5M
- Time to settle
- 2 weeks
Related finance
An anonymised example of a settled deal. Amounts are shown as a band and details are summarised so no client can be identified. Past results do not guarantee future outcomes. Finstead arranges finance and does not lend.