voluntary administration

Struggling to pay debts and at risk of insolvent trading?

COVID-19 hit small businesses hard, with forced closures and dwindling profits a reality for many. To relieve the pressure, the ATO hit the pause button on tax debt. The government also introduced temporary protection from insolvent trading and several fiscal support measures.

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Topics: Voluntary Administration, Business Debt, turnaround, insolvent trading, corporations act, insolvent trading penalties, what is insolvent trading

Upcoming Changes to COVID-19 Stimulus Measures for Australian Businesses

In early 2020, the Federal Government released a range of COVID-19 stimulus measures to financially support Australian businesses through the Coronavirus pandemic.

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Topics: Voluntary Administration, Director Advice, Business Debt, Liquidation

Receivership, Voluntary Administration and Liquidation Explained

As a company director, you may have heard the terms Receivership, Voluntary Administration (Administration) and Liquidation. But do you know exactly what they mean and how they differ? These terms refer to the process generally called external administration. This involves an external professional being placed in control of a company in financial trouble and facing insolvency.

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Topics: Company Liquidation, Voluntary Administration, Business Debt

What is Voluntary Administration?

If your business is regularly paying bills late, struggling to make profit and experiencing a decline in sales growth, you may be facing insolvency. When faced with insolvency, its best to act fast and seek professional advice straight away. The faster you decide to obtain help, the higher the chance your business has of surviving.

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Topics: Voluntary Administration, Business Debt

What is a Deed of Company Arrangement (DOCA)?

Voluntary Administration and Deeds of Company Arrangement (DOCA) continue to have significant influence on major restructurings among Australian businesses. A Deed of Company Arrangement, often called a DOCA, is essentially the ‘deal’ that is proposed to a company’s creditors in a Voluntary Administration (VA). The aim of a DOCA is to maximise the chances of a company’s survival, or to provide a better return for creditors than immediately liquidating the company. The DOCA procedure is extremely flexible and tailored to your business’ individual situation. It can be used for many purposes, including to:

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Topics: Voluntary Administration, Business Debt

Q&A: Is Voluntary Administration Right for my Business?

When your company is in financial trouble, deciding on your next move isn’t easy. If you’re facing insolvency, voluntary administration is one of the options available to you.

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Topics: Voluntary Administration, Business Debt

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