While the Australian restructuring landscape has continued to evolve, the Australian Securities and Investments Commission’s (ASIC) review of the voluntary administration (VA) and deed of company arrangement (DOCA) process remains one of the most comprehensive analyses of formal restructuring outcomes in Australia.
Examining more than 5,000 organisations that entered VA between July 2021 and June 2025, representing approximately $71 billion in liabilities, the review provides valuable insights into how businesses use formal restructuring processes to preserve value, address financial challenges and create a pathway to recovery.
The review also highlights that outcomes vary depending on company size, funding availability, objectives of…