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Voluntary Administration

Voluntary administration is intended to provide a way for the company to restructure its affairs and if possible, avoid liquidation.

Voluntary administration is an interim process that can be used when a company is experiencing significant financial difficulties and may be unable to pay its debts.

The directors hold a meeting to decide whether the company should enter voluntary administration and appoint an administrator such as Oldhams.

How Does Voluntary Receivership work?

We take control of the company and investigates its affairs. The administrator must also report to ASIC and the creditors on their progress and the outcome of the investigation. The report provides an opinion on three options available to creditors, who vote on the future of the company:

  • The administration ends, control of the company is returned to the directors,
  • Approve and execute a Deed of Company Arrangement (DOCA), or
  • Wind up the company and appoint a liquidator.

Oldhams considers all available options when making a recommendation to creditors, including the company’s solvency and the estimated return to creditors.

Over the years, we have successfully navigated numerous businesses through challenging financial waters, emerging stronger and more resilient than ever. with a deep understanding of the complexities that arise during times of distress. Rest assured, we will apply this knowledge and experience to come up with the best strategy for your company's unique circumstances.

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