Voluntary Administration — Notice of Appointment (Form 5054)
Form number: Form 5054
When directors believe their company is insolvent or likely to become insolvent, they can resolve to appoint a Voluntary Administrator. Form 5054 notifies ASIC of the appointment within 1 business day. VA pauses creditor enforcement for ~25 business days while the administrator develops a plan and creditors vote on the company's future.
Official source
asic.gov.auRelated topics
voluntary administrationvaform 5054asicadministrators436acreditor moratoriumcompany insolvencyinsolvent companybusiness administrationcompany in troublecreditor protectioncompany rescueadministration processappoint administratorcompany debt crisisbusiness restructurecompany wind upcompanyabnbankruptcydebt agreement
Related forms
- ASIC Form 484 — Notification of Company ChangesForm 484
- ASIC Form 6010 — Voluntary Deregistration of a CompanyForm 6010
- ASIC Form 524 — Presentation of Accounts and Statement (Winding Up)Form 524
- Members Voluntary Liquidation (MVL)Form 520 / Form 205
- Creditors Voluntary Liquidation (CVL)Form 205 / Form 509
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