No reason to fear yet. We all knew this was coming. This is a...

No reason to fear yet. We all knew this was coming. This is a necessary step in restructuring the company. Following text I copied from; http://asic.gov.au/regulatory-resou...editors/creditors-voluntary-administration/#1

The role of the voluntary administrator is to investigate the company’s affairs, to report to creditors and to recommend to creditors whether the company should enter into a deed of company arrangement, go into liquidation or be returned to the directors.

The effect of the appointment of a voluntary administrator is to provide the company with ‘breathing space’ while the company’s future is resolved. While the company is in voluntary administration:

• unsecured creditors can’t begin, continue or enforce their claims against the company without the administrator’s consent or the court’s permission
• owners of property (other than perishable property) used or occupied by the company, or people who lease such property to the company, can’t recover their property
• except in limited circumstances, secured creditors can’t enforce their charge over company property
• a court application to put the company in liquidation can’t be commenced, and
• a creditor holding a personal guarantee from the company’s director or other person can’t act under the personal guarantee without the court’s consent.