Voluntary Administration
- Voluntary Administration
Voluntary Administrations (“VA”) were introduced on 23 June 1993, as part of the changes legislated under the Corporate Law Reform Act of 1992. These reforms came about as a result of recommendations made by the Australian Law Reform Commission in the report on its “General Insolvency Inquiry”. One of the key findings of this report (often referred... Read More »
- Deed of Company Arrangement
A Deed of Company Arrangement (“Deed”) is a statute-approved procedure permitting a company to make a compromise or arrangement binding on all its creditors. A Deed must always be preceded by a Voluntary Administration (“VA”), but a Deed is not always the inevitable result of a VA. A Deed is a separate administration from a VA. ... Read More »
- Schemes of Arrangement
Schemes of Arrangement (“Schemes”) provide the statutory method by which a company can reach a compromise with its members or creditors or with particular classes of its members or creditors which would otherwise require each and every person to be bound by the Scheme, consenting individually to be bound. The legislation does not detail the objectives... Read More »