In this timely episode of The Sounds of the Baskerville, James Flaherty and insolvency expert Chris Baskerville unpack ASIC’s latest report on the Small Business Restructuring (SBR) regime—and what it really tells us about the state of Australian businesses post-COVID. With over 3,400 companies having used the SBR process and more than $100 million returned to creditors, the numbers are promising. But behind the stats are real stories of survival, smart planning, and hard decisions. Chris shares first-hand insights from the front lines—what’s working, where the ATO is shifting its stance, and why some businesses thrive while others collapse. Whether you're a practitioner, a business owner, or just curious about how restructuring can rescue a company from the brink, this episode delivers practical insight with trademark humour and clarity. It's not about doom and gloom—it’s about second chances, financial discipline, and doing the right thing.