and reducing the stigma of business failure, we consider that a fear of failure impedes innovation.
Olvera believes in creating an environment for entrepreneurial activity to thrive
What is Voluntary Administration?
Voluntary Administration is a process initiated by directors when they believe that a company is or is likely to become insolvent. The Voluntary Administration is a business restructuring process that is governed by the Corporations Act. It gives the company a moratorium with its creditors so that the company can be saved, or a plan implemented for an orderly sale of business assets.
What is Liquidation?
Liquidation is a process that can be initiated by the directors or a creditor. Unlike a Voluntary Administration process, a business liquidation process is initiated when a company cannot be saved (not even by Olvera). A Liquidator is appointed to sell the company assets.