What are the 3 things that can happen when a voluntary administration ends?

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Expert Solution

Voluntary adminstration is an insolvency procedure involving the appointment of an external administrator known as voluntary adminstration.this aim's is to resolve a company's future direction .an independent and suitably qualified person takes full control of the company to try to work out a way to save either a company or business.

There are three options available to creditor when voluntary adminstrator investigates and reports to creditor on the company 's business ,property ,affair and financial security .these are -

End the voluntary adminstration and return the company to director's control.

Approve a deed of company arrangement through which the company will pay all or parts of its debts and then be free of those debts

Wind up the company and appoint a liquidator.

At the end of their adminstration the voluntary administrator must lodge a detailed account of receipts and payment.s copy of these account may be obtained by searching the ASIC registers and paying the relevant fees.

Rahul Sunny answered 1 year ago

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