A voluntary administration (also known as a VA) is an insolvency process that aims to resolve the company’s future as quickly as possible. When company directors suspect that their company is insolvent or may become insolvent, an administrator should be appointed as quickly as possible in order to maximise the chances that the business will survive. If business survival is no longer possible, the voluntary administration is aimed to provide better returns for the company’s creditors and members than if a company were immediately wound up. Typically a voluntary administration lasts between 25 to 30 business days. At the end of a voluntary administration, the company usually enters into a Deed of a Company Arrangement (also known as DOCA) with its creditors or may be placed into liquidation.
SV Partners are highly skilled in assessing a business’ financial position and provide tailored solutions for every situation. Our role in the voluntary administration process is to trade the company’s business if appropriate, investigate the company’s affairs and report to creditors on the company’s affairs. We understand that a voluntary administration not only affects the owners and directors of a business, it can also have a long lasting impact upon its employees, creditors and shareholders.
SV Partners has considerable experience in voluntary administration matters across a range of industries and businesses. Our team of experts can provide your organisation with the necessary support in liaising with creditors and finding the best possible outcome for all stakeholders.
For more information on voluntary administrations, visit our FAQ section or alternatively to speak confidentially to an expert that can assess your situation, call 1800 246 801.