Voluntary Administrators of a tourism company based in Cairns, QLD. The Company ceased trading in 2019, and was in extended negotiations with the landlord regarding the 10 year lease agreement prior to appointment of Andrew McCabe and Rajiv Goyal as Voluntary Administrators on 30 March 2021.
We liaised with the landlord, the key non-related party creditor, and undertook investigations into the Company’s affairs.
A Deed of Company Arrangement (DOCA) was proposed to offer a small return to creditors. The DOCA was accepted by the majority of creditors at the second meeting. As Deed Administrators, we adjudicated on creditor claims and paid distributions in accordance with the DOCA. The DOCA was effectuated on 15 July 2021 and the Company was then subsequently deregistered.