WHEN IT’S NO LONGER BUSINESS AS USUAL,
WE’RE HERE TO
DEED OF COMPANY ARRANGEMENT
There is no doubt that running a successful business is getting tougher and tougher in Australia. With competition white-hot, it is likely that many small to medium enterprises can wade into difficult financial waters.
During financial trouble, it is important that business leaders recognise their options – with a Deed of Company Arrangement being one option. Read on to find out what a Deed of Company Arrangement is, how it can help your enterprise and the key details of this process.
A Deed of Company Arrangement (DOCA) may be a means of resolving your financial difficulties and enabling your business to return to normal trading.
WHAT IS DOCA?
A Deed Of Company Arrangement (DOCA) is one of the possible outcomes when a company enters voluntary administration.
A Deed Of Company Arrangement is a legally binding plan to repay some, or all, outstanding debts. In approving the DOCA, the creditors believe it offers them a better return than if the company was put into liquidation.
What information is in a DOCA?
The DOCA may include:
- Details of all debts covered by the deed.
- Information of all assets and property proposed to be used to repay the creditors.
- A schedule for repayment of the debts
- The term and circumstances of any moratorium, during which the creditors may agree not to pursue their debts.
- Who will administer the DOCA. (Normally the administrator managing the voluntary administration process as they are already familiar with the company and the situation).
When does the DOCA end?
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