Voluntary Administration

Voluntary Administration from Insolvency Guardian Australia

By: Insolvency Guardian Australia  10-Jan-2013
Keywords: Voluntary Administration

The primary purpose of a voluntary administration is to provide a flexible procedure enabling a company time to attempt a compromise or arrangement with its creditors, which may save the company, the business and jobs while maximising the return to creditors.Voluntary Administration is utilised to provide the company with a chance to trade out of its difficulties at a time when the company is unable to pay its debts, that is, it is insolvent.If it transpires that the company cannot formulate a proposal acceptable to creditors, voluntary administration can be used to easily and inexpensively wind up the company.

Keywords: Voluntary Administration

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