The liquidators of Ally Fashion Pty Ltd have conjured a deal that will see the winding up of the company stayed and 25 cents in the dollar made available for unsecureds, assuming an improved deed of company arrangement (DoCA) proposal garners sufficient support at a meeting to be convened.
“It seems to me that the Court would generally exercise caution in appointing voluntary administrators nominated by a deed proponent in order to assess the adequacy of a DOCA proposed by that deed proponent, particularly where their staff have been apparently involved in the preparation of documents that are then used to support that DOCA.” Justice Ashley Black.
No doubt a notice of meeting in draft form has already been…
