The Convening Period: time for a change?

More and more administrators are applying for a time extension to conduct the voluntary administration process, as the standard convening period isn’t enough in dealing with large and complex business entities.

Since the inception of the voluntary administration regime in 1993, the legislative provisions of Part 5.3A of the Corporations Act 2001 have undergone limited reform. As such, in recent years the insolvency industry has called for significant reforms to enhance the efficacy of the voluntary administration regime and align it with its intended purpose, particularly in an environment of larger and more complex business and regulation. The most recent calls for reform were documented in the 2...

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Authors: Ned Swifte

Published Date: 05 December 2024