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Tag Archives: voluntary administration
Can we Trust Creditors Trusts?
Some years ago it became fashionable to avoid statutory protections of the Deed of Company Arrangement provisions of Part 5.3A, by resolving to enter into a DOCA which would immediately terminate and be replaced with a trust, extinguishing creditors’ claims in the VA/DOCA procedure and replacing them with claims as beneficiaries to the like [...]
Posted in Corporate Insolvency Also tagged abuse, administrators, ASIC, Bevillesta, creditors trusts, deed of company arrangement, DOCA Comments closed
AMI (Administrators Appointed) – just in case you didn’t know!
This company has been in voluntary administration since late last year. Prior to its going into administration, the ACCC launched proceedings against it regarding its disclosure in relation to its erectile dysfunction products. Those proceedings are ongoing. Last week the ACCC obtained an interim injunction ordering the administrators to disclose that the company is in [...]
Posted in Corporate Insolvency Also tagged ACCC, administrators, AMI, ASIC, Code of Professional Practice, conduct, disclosure, insolvency practitioners, IPA, Senate Inquiry into Liquidators and Administrators Comments closed
Has the rescue culture lost its way?