Give your company a second chance to regain financial stability through Voluntary Administration
Protect Your Company's Future and Initiate a Voluntary Administration
Voluntary Administration (VA) should never be considered a pre-planned way of avoiding debts, but it can provide you significant relief from debts if your company is in financial trouble. By engaging an expert, independent Administrator, you can reduce your company’s unsecured debts which will allow your business to get into a much healthier financial position moving forward.
Voluntary Administration could be the answer if your company is facing significant debts you can’t repay. VA is designed to help give you a ‘grace period’ through appointing a Voluntary Administrator who will address debt or cash flow problems. Even if legal proceedings have already started, appointing an Administrator will prevent further action against you and your company while a plan is devised to help you move forward with less liabilities. VA can reduce your unsecured debt by 80% or more.
Voluntary Administration Takes the Pressure Off Your Company By:
How Will a Deed of Company Arrangement Help Your Company?
A Deed of Company Arrangement is a formal arrangement (which you offer to creditors) that’s prepared by the Voluntary Administrator during the process. It’s presented for consideration during the second meeting of creditors. A DOCA is flexible and changes to meet your company’s individual circumstance. A DOCA sets out your company’s:
- Current financial situation and assets,
- The Administrator’s opinion on its future and viability,
- An amount per dollar of debt that you can afford to offer creditors, along with a payment timeframe, and
- A plan to restructure your business so it doesn’t get in the same situation again in the future.
Revive Financial Will Help You Through the Voluntary Administration Process in 5 Easy Steps
Return to Profitability and Unwind with a Voluntary Administration in Perth
At Revive Financial, our experts will provide you with detailed advice the benefits of VA to help you avoid insolvent trading and personal liability. We will work with you to achieve a positive result for your business.
With over 43 years of combined experience, our dedicated team are ready to work with you and find the best possible solution for your business’ financial woes. We have been assisting businesses through the Voluntary Administration process in Perth and Western Australia for years. Our team consists of business debt and personal insolvency specialists including Chartered Accountants, Registered Liquidators, Bankruptcy Trustees and business advisors.