Voluntary Administrators of a company which designed and manufactured aluminium windows and doors for residential and commercial projects across Sydney. The company operated with 14 staff from premises in Matraville, NSW. We successfully traded on the business to the second meeting of creditors on 20 September 2021, to allow the director an opportunity for his proposed DOCA to restructure the business, to be considered by employees, suppliers and other creditors.
At the second meeting, creditors (including employees) resolved to accept the DOCA which resulted in the continued employment of all staff and the completion of all current projects to mitigate liquidated damages claims from builders. The DOCA was executed by all parties immediately following the meeting of creditors and control of the Company has been handed back to the Director on the same day.