Who Can Appoint an Administrator?

Directors

By board resolution, where the company is insolvent or at risk of insolvency.

Secured Creditor

Holding a charge over all or substantially all of the company's property.

Liquidator or Provisional Liquidator

Already appointed to the company.

First Meeting of Creditors

Within 8 business days · 5 days' notice

Creditors may vote to:

Administrator Investigates and Reports

The Administrator examines the company's affairs and provides creditors with a report outlining the available options and recommendations.

Second Meeting of Creditors

Within 20 business days · 5 days' notice

Creditors consider the Administrator's report and decide the company's future. The Administrator may adjourn by up to 45 days, and the Court may extend further.

End Administration

Company returned to directors to continue trading.

Deed of Company Arrangement (DOCA)

Creditors accept a proposal and the company enters a DOCA.

Liquidation

Creditors resolve to wind up the company, and the Administrator becomes Liquidator.

Within 15 business days

DOCA Signed

Company executes the Deed, which binds all unsecured creditors and sets the path to recovery.

Not signed within 15 days

DOCA Lapses, Then Liquidation

Administration is immediately converted and the Administrator is appointed as Liquidator of the company.