Voluntary Administration

Support for A Strong Future

Financial constraints and difficulties are part and parcel of running a business. They can come up at any time despite putting in your best efforts to avoid them. Roger and Carson understand that and offer comprehensive company voluntary administration services to give the utmost support to you during your financial distress.

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What is Voluntary Administration?

Voluntary administration is a formal process to help a struggling business get back on its feet. An independent expert, called an administrator, takes over the company to look at its finances, manage its operations, and create a plan to pay back creditors.

This process gives the company time and space to reorganise and try to avoid shutting down completely.

The Voluntary Administration Process

Appointing an Independent Administration

The company directors appoint a voluntary administrator from Roger and Carson to take charge of the business.

Assessment By The Administrator

The administrator reviews the company’s financial situation, operations, and creditor claims to understand its overall health. This step is crucial for businesses that need voluntary administration advice to identify the best path forward.

First Meeting of Creditors

We offer voluntary administration advice and have years of experience with voluntary administrations and have successfully restructured numerous businesses that are still trading and thriving today.

Report to Creditors

The administrator provides a detailed report to creditors, explaining the company’s financial status and the proposed plan.

Second Meeting of Creditors

Usually held 20 business days after the appointment, creditors vote on the proposed plan. The options include:

Deed of Company Arrangement (DOCA): A DOCA is an agreement between the company and its creditors summarising how the company’s affairs will be handled, potentially allowing the company to keep trading under new terms.

Liquidation: If the DOCA is not agreed upon, the company may be placed into liquidation.

Return to Directors: In rare cases, if it is deemed viable, control of the company may be returned to the directors.

The Benefits of Entering Business Voluntary Administration

Breathing Space from Creditors

Once an administrator takes over, creditors can't sue the company. This will give the company the relief and stability it needs at this time.

Independent Review

The administrator looks closely at the company's finances and gives unbiased advice.

Maximised Returns

The aim is to achieve the best outcome for everyone involved. Going through voluntary administration often results in creditors getting more money back than if the company were shut down immediately.

Potential for Business Continuity

Voluntary administration keeps the business running, protecting jobs and business relationships.

How Can Roger and Carson Help?

Our experts at Roger and Carson specialise in business voluntary administration, and will give all kinds of support throughout the process. We offer voluntary administration advice and have years of experience with voluntary administration in Sydney.

Here is how we can help you deal with this complex situation:

Initial Consultation

Our team will first meet you to understand your business’s situation and challenges. This will help us give you the best voluntary administration advice tailored to your needs.

Strategic Planning

Once you appoint our expert as an independent administrator, he/she will create a strategic plan for your business.

Stakeholder Communication

The independent administrator appointed by Roger and Carson will communicate with the creditors, stakeholders, and employees to keep everyone informed.

Implementation and Monitoring

Our team will oversee the execution of the voluntary administration plan, monitor its progress, and make necessary adjustments to achieve the best outcomes for your business.

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Schedule a Call With Us

At Roger and Carson, we pride ourselves in helping businesses deal with financial troubles with professionalism and integrity. Our voluntary administration services are designed to support you through tough times.
If your business could benefit from company voluntary administration, reach out to us for a confidential consultation.

FAQ

What is the difference between voluntary administration and liquidation?

Company voluntary administration gives a company in financial trouble a chance to reorganise and keep trading if possible. Liquidation, on the other hand, is when a company’s operations are ended, its assets are sold, and the proceeds are given to creditors. Liquidation happens when a company cannot be saved and has to be closed down permanently.

What role does a director play during voluntary administration?

During voluntary business administration, the directors' powers are put on hold, and the voluntary administrator takes over the running of the company.

What is a Deed of Company Arrangement (DOCA)?

A Deed of Company Arrangement (DOCA) is a binding agreement between a company and its creditors. It summarises how the company's affairs will be managed.

Enquiries

Where to find us

Level 35, One International Towers 100 Barangaroo Avenue SYDNEY NSW 2000

105, 33 Lexington Drive BELLA VISTA NSW 2153

Email us at

info@rogerandcarson.com.au

Call us at

(02) 8046 7588