VA’s & DoCA’s

Jamie Oliver VA extension not about fees: BDO

Creditors of the failed Jamie Oliver Restaurant Group (Australia) are likely to go without a dividend the Federal Court heard yesterday, as voluntary administrators (VAs) BDO made an ex-parte application to extend the convening period for the second meeting of creditors by four months. It’s been widely reported that prior to it being placed in VA last month, BDO and KordaMentha had helped negotiate a sale…

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CRCG: VA’s betting DoCA will trump disputed DCA

The report to creditors of failed construction joint venture CRCG-Rimfire contains some instructive detail in relation to administrations where the major stakeholder is also a state-owned enterprise from communist China. Grant Thornton’s Mike McCann and Said Jahani were appointed voluntary administrators (VAs) late last year and have turned out a hefty 217 page report ahead of this morning’s meeting in Brisbane, where creditors will either vote to…