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Take a breather

Moratorium (pause) on company debts and court proceedings.

Clear guidance

Expert advice to avoid insolvent trading and temporary relief of director roles and responsibilities.

Turnaround the future

Explore your opportunities, improving the financial status of the company back to profitability.

About your recovery partner

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  • CA and CPA
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  • National Team
  • ASIC Registered
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My experience with Domenic Calabretta and the team at Mackay Goodwin was exceptional. They came out to see me the very next day, assessed my business and explained my options. During the administration they were always contactable and transparent.

- Anthony Berg

What is Voluntary Administration?

Gives you the breathing space to reassess the future. Entering voluntary administration allows you the opportunity to strategize with insolvency experts to create a new pathway for the business.

During this time, our expert administrators will begin investigations and preparing reports for creditors with a detailed understanding of the company’s financial affairs. At the second creditors meeting, usually 25-30 business days of appointment, the future of the company will be voted on by creditors. The company will either be wound up, enter a Deed of Company Arrangement (DOCA) or the company is returned to the control of its directors.

When facing overwhelming financial pressures, immediate action can make all the difference. Voluntary administration can be a lifeline and is a proactive step for businesses that need a breathing space to reorganise their affairs while protected from creditor actions.

Mackay Goodwin offers expert voluntary company administration services to stabilise businesses facing extreme financial stress. As your key experts in company restructure, we help you develop a structured plan that addresses immediate challenges and lays the groundwork for sustainable recovery.

Early Action with Voluntary Administration

Engaging with experts at the first signs of financial distress can profoundly impact the outcomes of a voluntary administration. Acting sooner broadens the range of viable solutions and enhances the effectiveness of each strategy implemented. Early intervention allows our team to apply a preventive approach, addressing issues before they escalate into more significant problems. This proactive step ensures the restructuring process is more controlled and less disruptive, ultimately leading to a more successful recovery and preventing liquidation.

Don't wait until the situation becomes unmanageable – taking decisive action now can secure a brighter future for your business.

How Voluntary Administration Can Stabilise Your Business

Company voluntary administration is a vital tool for companies in distress, providing legal protection from creditors while you focus on restructuring efforts. This process is not just about managing debts – it's about rediscovering your business's potential to thrive in competitive markets.

Protection from Creditors

A voluntary administration immediately halts all legal proceedings and debt collections, giving your business the room to manoeuvre and plan for the future. This pause provides essential breathing space to strategise without the pressure of immediate repayments, allowing for a more thoughtful approach to financial management. By shielding your business from creditor actions, we create an environment where strategic planning can take place unimpeded.

Operational Continuity

With an administration, your company can continue operating. This is crucial for maintaining its value and retaining customers and staff. Continuing daily operations prevents the loss of critical business relationships and provides a stable platform for implementing recovery strategies. This continuity is vital for maintaining brand reputation and customer trust during financial restructuring.

Debt and Legal Handling

As your appointed voluntary administrators, we negotiate with creditors and handle all legal aspects, focusing on achieving consensus and favourable outcomes. Our expert team strives to secure agreements that satisfy creditor demands while being manageable within your company's financial constraints. Through these negotiations, we aim to minimise liabilities and craft a viable repayment plan that supports long-term business viability.

Expert Guidance and Support

Seeking expert guidance can further strengthen your small business restructure plans. When you appoint Mackay Goodwin as your voluntary administrator, we ensure every step taken is calculated to enhance your business’s recovery and prospects. Our support helps you confidently navigate the complexities of administration, making informed decisions that lead to sustainable business practices.

Comprehensive Strategy for Recovery

Beyond immediate relief, we aim for a comprehensive recovery and future growth. Our strategies include detailed assessments of your business’s operational and financial health, identifying areas for improvement and implementing changes for enhanced efficiency and profitability. This holistic approach ensures your business emerges from voluntary administration stronger and more resilient.

The benefits of entering Voluntary Administration

Take a breather

Moratorium (pause) on company debts and court proceedings.

Clear guidance

Expert advice to avoid insolvent trading and temporary relief of director roles and responsibilities.

Turnaround the future

Explore your opportunities, improving the financial status of the company back to profitability.

Why enter Voluntary Administration?

Voluntary Administration is a process designed to hit pause when the business is experiencing financial hurdles. Our independent and experienced insolvency experts identify pathways in determining the future of the company.

In the midst of analysing the current issues, our people provide assurance to creditors with expert reviews and reports of maximising their return.

As there are no guarantees in business, voluntary administration offers the opportunity to restructure, turnaround and pivot out of difficult times.

Secure Your Business's Future

Don’t wait to be overwhelmed with financial burden – engage with Mackay Goodwin early to significantly enhance your options for recovery. Our voluntary administrators are ready to help you navigate through this challenging time with strategic advice and practical solutions that respond effectively to your unique challenges.

Get in touch with Mackay Goodwin to discuss how voluntary administration can provide a pathway out of financial distress. Take a step towards recovery, stability and profitability today.

Facilitating decisions that set foundations in key moments, the moments that matter.

Process of Voluntary Administration
Allows directors to address pathways on the current financial issues you’re facing. And, where viable bring the company to a healthy state. Here’s how we do that:
1
Contact us today

2
We will strategise and devise a plan on a new venture for the business.

3
Our team will organise meetings of creditors and negotiate a Deed of Company Arrangement (DOCA) if appropriate.

4
We hand back the keys and the business trades on.

Deed of Company Arrangement (DOCA)

Providing certainty during uncertain times.

A DOCA is a binding agreement between the company and its creditors to resolve ongoing financial issues.

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Voluntary Administration: Why We Stand Out

Turn around your business’s financial health through a structured and strategic voluntary company administration process. We are dedicated to managing your immediate economic challenges and setting your business on a long-term path to success.

Strategic Recovery Approach

Choosing Mackay Goodwin means opting for a team with deep expertise in handling complex financial restructuring. As a leading corporate advisory and insolvency firm, we provide tailored solutions aligned closely with your business's unique circumstances. Our voluntary administrators use their extensive experience to navigate the intricacies of company administration, ensuring compliance and maximising the potential for a successful turnaround.

Acting promptly to engage with us ensures strategic plans are conceptualised and effectively executed, reducing the financial strain and positioning your business to recover, optimise and reset successfully.

Customised Solutions & Innovative Thinking

Our strategies are curated to meet your needs, ensuring outcomes that foster long-term viability. By integrating innovative thinking into our practice, we adapt to your current financial realities while anticipating future challenges, ensuring your business is prepared for tomorrow. This approach is particularly effective in corporate debt restructuring, where we align financial strategies with your business’s specific circumstances.

Schedule a free consultation with our team to discuss these strategies and how we can adapt them to your situation. Let us tailor a plan that reflects your specific operational and financial context. Whether you’re considering entering voluntary administration, a deed of company arrangement (DOCA) or facing other complexities, our personalised solutions provide the guidance you need.

Holistic, Action-Focused Approach

From the initial assessment to implementing a recovery strategy, our comprehensive service covers all aspects of voluntary administration, including liaising with creditors, managing legal complexities, and planning strategic exits or a small business restructure. Our approach is proactive and result-driven, aimed at securing quick stabilisation followed by sustainable growth. Initiate a comprehensive review of your business with us, and let’s map out the most effective path to recovery together. If your situation involves a director penalty notice, our team is well equipped to advise and protect your interests throughout the restructuring process.

Expert & Experienced Team

Our voluntary administrators include ASIC-registered liquidators, CA and CPA-qualified accountants, and ARITA professional members. This blend of qualifications and hands-on experience equips us to tackle financial challenges from multiple angles, offering you the most comprehensive service possible. With Mackay Goodwin, you benefit from a team committed to achieving the best possible outcomes for your business.

Voluntary Administration FAQs

When the business is facing financial distress and unable to repay creditors, entering into administration or liquidation can be appropriate pathways. If the business is still viable, and has potential to get back on the front foot, entering into administration is a more suitable option. However, when it comes time to close the doors as there is no other alternative, liquidation is the best method to undergo.

As a director, their roles and responsibilities do not pause due to the company being in administration. A director’s role includes:

  • Assisting the administrator by providing financial records, information, processes and key personnel.
  • Relinquishing control to the administrator.
  • Attending creditor’s meetings.

Once an administrator is appointed, the administration process takes typically between 20-30 business days.

A DOCA, also known as a Deed of Company Arrangement, is an agreement between the company and it’s creditors to relieve the company debts. The agreement binds all creditors, with terms and conditions of repayments ensuring they are appropriate to the company’s financial status. A DOCA provides the company with the opportunity to continue to trade, provide return for creditors as well as making ongoing contributions.

We’ve helped many businesses undergo a successful restructure. We can do the same for you.

Security Company Case Study

An 85% reduction in debt gets company through a major trading and cash flow problem. An electronic security company in Brisbane with clients ranging from small boutiques to international mega-corporations within Australia was experiencing difficulty with their cash flow, so Mackay Goodwin stepped in to help.

Building Developer Case Study

This South Australian builder continues to trade, thanks to a DOCA, restructure and dispute resolution. When an Adelaide building development company found itself in a lengthy and protracted legal dispute over a costly project, it found itself unable to trade out of the heavy losses it had incurred as a result of the deal.

Earth Moving Company Case Study

75% reduction in tax debt gets this earthmoving company moving again. By the time a Melbourne-based earthmoving company contacted Mackay Goodwin over reducing their accrued debt, they had built up a $280,000 backlog with the Australian Taxation Office (ATO).

Meet the people in your team.

At Mackay Goodwin, we have a nationwide team ready to assist you. Our team of qualified professionals, including ASIC registered liquidators are experts at finding solutions for people facing financial difficulties. Located across all major Australian cities, we’re ready to help you in any situation.

Edwin Narayan

Director & ASIC Registered Liquidator

Sydney

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Abby Xu

Analyst

Sydney

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Edwin Narayan

Director & ASIC Registered Liquidator

Sydney

Read More

Abby Xu

Analyst

Sydney

Read More

Edwin Narayan

Director & ASIC Registered Liquidator

Sydney

Read More
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Get in touch

Speak to one of our experts now for a free consultation.
Enter your details below or call 1300 750 599.