If voluntary then:
The voluntary administrator will liaise with creditors throughout the appointment, however, there are two key meetings:
A first meeting of creditors is typically held within eight business days of appointment where they vote to replace the Voluntary Administrator or to form a committee of inspection.
A second meeting of creditors is typically be held within 25 business days of appointment where they must vote to:
accept a proposal – known as a Deed of Company Arrangement or DOCA – put forward by the directors to.
return the company to the directors’ control, or put the company into liquidation.
Has the fat lady sang or is a DOCA likely or possible?
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