LIQUIDATION DIRECT

Solutions for Businesses in Distress

What is the Voluntary Administrators Role?

The Voluntary Administrator takes control of a company's assets and then investigates and reports on the company's business, property, affairs and financial circumstances to the creditors of the company.

There are three options available to creditors in a Voluntary Administration and they are;

  • End the Voluntary Administration and return control of the company to the directors
  • Approve a Deed of Company Arrangement through which the company will pay all or part of its debts
  • Liquidate the company

The Voluntary Administrator is required to provide creditors with his opinion on each of the options and recommend which option, in his opinion, is in the best interest of creditors.

The role of the Voluntary Administrator includes taking on all powers of the company and its directors and this will necessarily involve the power to sell assets or close down the company's business in the lead up to the creditors meeting and decision on the future of the company.

The role of the Voluntary Administrator also includes reporting possible offences and breaches of the Corporations Act to the ASIC.


       Liquidations      


Liquidation Direct - Experts in Voluntary Administrations. Low Cost Liquidation specialists for voluntary liquidation, voluntary administration, bankruptcy and Part X Personal Insolvency Agreement and Part IX Debt Agreement. Operating as Liquidators in Sydney, Liquidator in Melbourne, Liquidators in Brisbane, Adelaide and Perth.
Liquidation Direct - Experts in Voluntary Administrations. Low Cost Liquidation specialists for voluntary liquidation, voluntary administration, bankruptcy and Part X Personal Insolvency Agreement and Part IX Debt Agreement. Operating as Liquidators in Sydney, Liquidator in Melbourne, Liquidators in Brisbane, Adelaide and Perth.

Liquidation Experts, Liquidation and Bankruptcy Specialist, Liquidators Registered with ASIC, Bankruptcy Trustees Registered with ITSA, Insolvency and Liquidation Advice, All forms of corporate and personal insolvency, Liquidation throughout Australia, Part IX Debt Agreements, Part X Personal Insolvency Agreement, Bankruptcy Expert.
CRS Warner Kugel t/a Liquidation Direct © 2008. All rights reserved
The Low Cost Insolvency Experts