Australia’s Voluntary Administration laws provide a flexible mechanism aimed at preserving value for companies faced with insolvency. McGrathNicol partners have acted as Voluntary Administrators and Deed Administrators in many of Australia’s landmark cases.
As Voluntary Administrators, we have experience in taking control of distressed companies, evaluating their position, formulating strategies to preserve value, advising creditors on the best alternatives, and executing transactions. We have achieved considerable success in preserving businesses as going concerns.
Most Voluntary Administration cases require expertise in strategic leadership, financial analysis and control, operational management, creditor management and transaction execution.
Recent examples of successful Voluntary Administrations undertaken by McGrathNicol include ION Group, Cubbie Station, and Henry Walker Eltin.
It is our practice to work collaboratively with management and creditor groups, and we have a demonstrated track record of gaining stakeholder support for our recommendations.
Key features of our approach to Voluntary Administration and Deeds of Company Arrangement are:
+ We support the establishment of and active engagement with creditors committees, involving regular and effective communication of progress and issues.
+ Our s439A reports provide comprehensive and considered analysis to assist creditors in making an informed decision as to the future of the debtor company.
In many of our Voluntary Administration cases, Deeds of Company Arrangement have been recommended, accepted and successfully administered as an appropriate means of reorganising and managing corporations, and paying creditor claims.