Avoid Corporate Insolvency, Save Your Business

Voluntary Administrator Services

Apply for voluntary administration to avoid restructuring and turnaround or liquidation. Call us today for a confidential and judgment-free business evaluation. We’ll help stabilise your finances.

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VOLUNTARY ADMINISTRATION

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 one possibility being Voluntary Administration. Read on to find out what a Voluntary Administration is, how it can help your enterprise, and the key details of this process.

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Voluntary Administration Advice To Help Save Your Business

Our highly experienced advisory team is on hand to help you regain control of your business.

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Confidential, judgment-free consultations driven by empathy

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We operate across every Australian state to help SMEs

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Our expert support has already assisted 100s of businesses

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It’s our mission to protect your business and deliver a positive outcome

Facing a Business in Administration? Take Decisive Action Now

Dealing with a company in administration is a stressful prospect for any director. But you can take decisive action immediately to try and save your business.

Contact Corporate Lifeline for the instant help you need. No judgments, just a confidential assessment and a transparent evaluation.

On your behalf, we could then negotiate with your creditors to determine a potential solution. This may be voluntary administration, which would see an external professional enter your business to resolve your financial struggles. Call us today and we’ll explore your situation and recommend a solution.

What is Voluntary Administration?

It’s when you ask for a voluntary administrator to take control of your business. It’s a proven process to avoid insolvency or liquidation services.

Appointing an administrator can be a highly positive step. You formally agree with creditors to help your business overcome its financial struggles. In time, you may be able to return to normal trading.

How Voluntary Administration Can Help Your Business

Once appointed, external administrators will determine how the business should progress. While it may seem daunting, their goal is to help you. By taking this step it:

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Provides your business statutory protection from legal action

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Allows the director time to find a financial solution

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Allows for negotiation with your creditors

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Stops insolvent trading

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Ensures the director doesn’t face personal liability

As your business continues to trade, the administrator’s internal analysis can help to restructure your business. This can help you return to profitability.

Our Voluntary Administration
Process in Four Simple Steps

Voluntary administration may be the ideal route for your business. Our advisors will determine if it’s the right course of action in just four steps.

1

Free Consultation

An initial meeting will consider the problems you’re facing and you can express your concerns with complete confidentiality.

2

Business Evaluation

Our advisors will look at your finances for potential business restructuring opportunities. We’ll also speak with you to determine the outcome you’re looking for.

3

Proposed Solution

If voluntary administration is the right option for your circumstances, we’ll talk you through how the process works.

4

Make Your Decision

It’s time to make a choice. After you decide, talk with us and we’ll provide expert support to ensure you can make an informed decision.

FAQS

What are the Potential Outcomes of Voluntary Administration?

A creditor meeting will consider your case. They’ll decide to accept the proposal or reject it. If they choose the latter they’ll place your business into liquidation. If they agree to the proposal you’ll enter into a deed of company agreement (DOCA).

What is a Deed of Company Arrangement?

It’s a binding arrangement between a business and credits that acts as a blueprint for a business to resolve its debt issues. A Deed of Company Arrangement sets out how the assets of a business will be managed and follows on from the opening phase of voluntary administration.

Business directors or a third party formulate and propose the DOCA during a voluntary administration. The proposal is then published for creditors to review. They are asked to accept the terms and pass a resolution.

How Long Does Voluntary Administration Take?

In most instances between four to five weeks. During this time the administrator:

Manages the business’ affairs
Conducts investigations
Report their findings to the creditors

Depending on the situation, the administrator can also seek an extension of time from a local court. This can ensure they have enough time to assess the business in detail.

The administrator will draft and circulate open reports about their assessments. These are discussed during meetings with creditors to ensure open communication. At the end of the process, a major final meeting will determine an outcome.

What is a Voluntary Administrator?

An administrator is responsible for trading, decision-making, and all liabilities incurred during the administration process. Within five business days of appointment, an administrator must hold a meeting of creditors.

Within 28 days of their appointment, a second meeting is held and a report is sent to creditors. This details the investigations conducted by the administrator and recommends to creditors for the business to either enter liquidation or Deed of Company Arrangement (DOCA).

What is the Cost of a Voluntary Administrator?

It’s not the solution to every problem and cost is often a limiting factor. The amount varies depending on whether the:

Business continues to trade
Size of the organisation
Complexity of the proposed strategy

The cost can be covered by the value of the company’s assets (if they’re being put to sale), or by the business’ ongoing turnover should it continue to trade.

OUR INSOLVENCY ASSISTANCE SERVICES

At Corporate Lifeline we have an array of services to cater to any phase your business is in financially.

Liquidations

Bankruptcy & personal insolvency agreements

Receiverships

Small Business
Restructuring

Agent for Mortgagee
in Possession

DOCA

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REAL PEOPLE, REAL REVIEWS

I found Corporate Lifeline to be very understanding of my situation. I was so stressed about my company being in jeopardy but I can relax now, knowing that I was given a solution and I can carry on trading.

Erin Djemal

After meeting with Kathleen, we felt that we’d met someone we could put our trust in and who would leave no stones unturned to help rescue our business. Kathleen took early decisive action to reduce costs, maintain the loyalty of customers and key staff and find a viable way forward for our company. I found them to be very approachable and well connected, which was instrumental in turning our company around.

Mark Griffin

Wollongong

It was a hard pill to swallow but it had to be addressed. I made the call to Corporate Lifeline and they were extremely helpful. They helped us to explore the possibilities to find any way forward but Liquidation was going to be our best option for the business. The process from very straight forward for us and there was a lot of help and lots of contact with them throughout the whole process.

Tony Cameron

Brisbane

Having traded successfully for over 15 years, it was devastating to realise that losing a key client would put our company into insolvency. But after speaking with the team at Corporate Lifeline I could see that we should’ve called them six months earlier. They were informative and supportive from the outset, which would have avoided months of stress and sleepless nights. Restructuring our company through the Voluntary Administration has put our company in a strong position and is now growing again. We are grateful for their time and expertise.

Kate Davy

Perth

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HOW WE CAN HELP YOU!

Download our FREE guide to resolving your financial difficulties and return to normal, successful trading.

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If you find yourself in a situation where you need financial advice for your business, let us help you.