Voluntary administration preparation
Voluntary administration is a fast process — the first creditors' meeting is within 8 business days. This checklist walks through the steps.
This is a 12-step checklist for appointing a voluntary administrator. It covers directors' resolution, administrator consent, notices and creditor meetings.
The checklist
Confirm the company is insolvent or likely to become insolvent
Directors must form the opinion required by s 436A.
Identify a registered administrator
Select a registered liquidator willing to act and obtain written consent.
Pass a board resolution
Directors resolve by majority that the company is insolvent or likely to become so and appoint the administrator.
Sign the instrument of appointment
Sign the instrument of appointment and deliver to the administrator.
Notify ASIC
Lodge notice of appointment with ASIC within one business day.
Notify creditors and secured parties
Administrator must notify creditors and secured parties within prescribed timeframes.
Prepare the DIRRI
Administrator prepares Declaration of Independence, Relevant Relationships and Indemnities.
Hold the first creditors' meeting
First creditors' meeting must be held within 8 business days of appointment.
Prepare the Report to Creditors
Administrator prepares a detailed report to creditors before the second meeting.
Hold the second creditors' meeting
Second meeting within approximately 25 business days — creditors vote on the future.
Consider a Deed of Company Arrangement
A DOCA is one of three outcomes — draft and circulate if proposed.
Transition to liquidation or control
If creditors vote for liquidation or the company returns to directors, transition accordingly.
When this checklist applies
Use this checklist when the directors believe the company is insolvent and want to pursue an orderly restructure or orderly wind up.
Common pitfalls
- Board resolution not compliant with s 436A
- Administrator's consent not in writing
- ASIC notification late
- First creditors' meeting delayed past 8 business days
- DIRRI not prepared
Run this checklist on a real matter
Quillio drafts board resolutions, notices of appointment and DOCAs in current Australian format. See /practice-areas/commercial-lawyers.
This checklist is a general guide. Voluntary administration has tight statutory timelines — always confirm current rules.
Use this checklist on your matter.
Quillio can run this checklist on a specific NSW conveyancing matter — confirm each item, calculate adjustments, and generate the supporting documents. The free trial requires no credit card.
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