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ARTICLE · 11 NOVEMBER 2026

Deeds Of Company Arrangement: A Practical Guide To DOCAs

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Deeds of Company Arrangement offer an alternative to liquidation by allowing companies in voluntary administration to restructure their affairs and creditor claims. This comprehensive guide examines how DOCAs work, what creditors should evaluate before voting, and the legal framework governing their implementation and enforcement. Drawing on High Court precedents and practical examples, it explores the critical considerations that determine whether a DOCA will preserve business value or deliver superior ret

AustraliaInsolvency/Bankruptcy/Re-Structuring
Wayne Davis
Wayne Davis
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Article Summary

Deeds of Company Arrangement (DOCAs) determine how a company’s affairs and creditor claims are handled after voluntary administration.

They may preserve a business or deliver a better return than liquidation through investor contributions, asset sales, or other funding.

Creditors decide whether to accept the proposal; the company ordinarily has 15 business days after the meeting to sign. A bound unsecured creditor can be required to accept the compromise despite voting against it.

Secured creditors and landlords retain qualified protections, eligible employees generally retain statutory priority, and releasing the company does not automatically release personal guarantees. A DOCA alone does not trigger the Fair Entitlements Guarantee.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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