An overview of the many different forms and uses of a deed of
company arrangement.
A deed of company arrangement (DOCA) is the Swiss Army Knife in
a restructuring professional's kitbag. DOCAs are comparatively
cheap, effective and efficient, while maintaining the dynamism
necessary to deal with all the ways that a company in distress can
be reformed.
At the 2023 ARITA NSW/ACT Division Conference, the quirky, the
bizarre and the unusual were up for debate. They included a DOCA
that initially failed before being resurrected, a restructure that
involved multiple DOCAs from multiple bidders, as well as a
business that moved from liquidation into a DOCA arrangement.
As panelist Daniel Krochmalik, Barrister at 3 St James'
Hall, noted of the discussion: "Each of the situations show
how DOCAs can constitute a deeply flexible process that doesn't
rely on overly prescribed rules."
