Voluntary Administration & Deeds of Company Arrangement
Restructure and rehabilitate your business.
Voluntary Administration (VA) provides a statutory framework for directors, or in some instances financiers, of a company to reorganise, restructure and recapitalise a business.
McGrathNicol’s VA services provide valuable breathing room to support a company in financial distress. We administer in a way that maximises the chance all or part of the business can continue or be saved, achieving a better outcome than an immediate liquidation.
The outcome of a successful VA is often a Deed of Company Arrangement (DOCA), which is a binding agreement between the company and its creditors documenting a change of rights between them, such as repaying outstanding debt at a lower amount and/or over time. The statutory protections afforded by the VA and DOCA process provides the opportunity for stakeholders to implement a strategy, to permanently rehabilitate a company in financial difficulty.