The Arrium Administration breaks new ground with a novel group DOCA structure

According to article,

" ...Despite ASIC’s concern that, if endorsed by the court, this style of DOCA, which fails to identify a transaction or agreement resulting in an identifiable return to creditors and so operates as a sort of ‘extension’ of the administration process (with the administrators enjoying more extensive powers), could become a feature of voluntary administrations in the small to medium enterprise market, the Court approved the Administrators’ actions. While ASIC’s concerns are not unfounded, the risk of this approach and type of DOCA becoming commonplace (particularly in smaller, less complex administrations), is minimal. The Arrium administration is anything but commonplace, and contains significant complexities warranting this novel approach by the Administrators..."

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