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Baker McKenzie

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Baker McKenzie has published the seventh edition of the Global Restructuring & Insolvency Guide. The Guide has been compiled by Baker McKenzie lawyers experienced in the practical aspects of restructuring and insolvency. It should provide you with a helpful reference tool to understand the numerous insolvency and restructuring regimes that may affect your business. It answers some key questions in light of the COVID-19 pandemic, such as, ‘Is state support for distressed businesses available?’ and…

Overview The voluntary administration procedure in the Corporations Act was introduced in 1993. Prior to this, the only formal mechanism for a company to compromise with its creditors was by a creditors’ scheme of the arrangement, a process often regarded as costly, time-consuming and cumbersome. The primary objective of voluntary administration is to provide for the business, property and affairs of an insolvent company to be administered in a way that: maximizes the chances of…