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Deed of Company Arrangement - Cross Roads Insolvency
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Deed Of Company Arrangement (DOCA)

After a short Voluntary Administration (“VA”) period, one of the possible outcomes is for the Company to enter into a Deed of Company Arrangement (“DOCA”) with its creditors, should the Creditors accept the DOCA proposal at the VA major creditors meeting.

 

A DOCA is a legally binding agreement between the creditors and the Company, which provides a solution to release the Company from its pre-Voluntary Administration debts. The DOCA binds all of the Company’s Creditors.

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 The Benefits of Entering into a Deed of Company Arrangement:

  • The Company may obtain a clean slate and continue to trade
  • The Creditors usually receive a better return than Liquidation
  • A DOCA can reconstruct the Company’s business and ownership structure
  • There is less stigma or adverse effect for the Company and Director,
  • For a consolidated group situation, saving the Company may be a means of saving the tax losses already incurred over the years.

If the creditors vote that a Company enters into a DOCA, the Deed must then be executed within fifteen (15) business days, otherwise the Company will face automatic Liquidation.

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Are You Issued With One Of These Notices

Have You Been Issued With One Of These Notices

Are You Issued With One Of These Notices
Director Penalty Notice (DPN)

A Director may be personally liable for outstanding Employees’ PAYG and Superannuation when the ATO issues a Director Penalty Notice.

Statutory Demand

A Creditor can apply to the Court to obtain Order to Wind up the Company if a Statutory Demand has not been responded to within 21 days.

Winding up Notice

Action is required at once if your Company is issued with this Notice, otherwise, this may lead to serious consequences for both the Company and Director.

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