What ASIC’s review tells us about voluntary administration

Jeff Marsden of BDO discusses ASIC’s review of more than 5,000 voluntary administrations, which found that 44% resulted in an approved DOCA, larger companies were significantly more likely to achieve a restructuring, and almost 90% of completed DOCAs delivered returns to unsecured creditors, emphasising the importance of third-party funding, viable underlying businesses and early intervention in preserving value and improving creditor outcomes.

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