BRI Ferrier is a leading provider of recovery services to insolvent or financially distressed businesses using the voluntary administration process.
Voluntary administration offers breathing space for organisations, so they can reorganise their financial affairs and potentially save their business. When appointed as voluntary administrator, we work closely with boards of directors, financiers, employees, unions, creditors, suppliers and other stakeholders to identify exposures, mitigate risks, strengthen core operations and maximise returns to creditors.
We carry on a company’s business where it is viable, assessing its profitability, developing strategies for future viability, investigating and reporting on all possible recoveries, and recommending the best options to creditors for maximum returns.
Where a company can be restructured, a deed of company arrangement (DOCA) is typically used to formally compromise the debts owed and return the company to a solvent position. A DOCA is a flexible arrangement that can be tailored to suit the needs of the company being restructured, with the aim of continuing the business as a ‘going concern’ and, ideally, to turn around its financial situation.
We can also incorporate a creditors’ trust into a DOCA and accelerate a company’s exit from administration. A creditors’ trust is an independent arrangement where the creditors receive rights as beneficiaries of the trust in place of their claims against the company. This mechanism can be used to immediately return the company to solvency and assist ongoing trading after voluntary administration.
BRI Ferrier has extensive experience in achieving successful recovery outcomes through voluntary administration and DOCA across many industries.