Browse by:

Appointing a VA, make sure you’re insolvent!!

If you appoint a Voluntary Administrator (“VA”) to your company, it pays to first carefully form an opinion as to its insolvency (or future insolvency); otherwise you are in for an expensive day in court. The Corporations Act requires directors, when resolving to appoint a VA, to form an opinion that the company is insolvent,…

VA’s appointment wrong, but we will still pay you

At the end of last year, the Federal Court handed down a decision that, respectfully, I’m feeling conflicted about. On the one hand, of course an Administrator (“VA”) should be paid for their reasonable remuneration. Even if the appointment is invalid due to circumstances outside of the VA’s control. But on the other hand, if the VA is invalid…