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Voluntary Administration Statement This is what to file when a person dies, with or without a will, owning personal property having a value not more than $25,000 (not counting the value of a motor
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Voluntary administration statement is a formal document submitted by a company to declare that it is insolvent and unable to pay its debts.
Directors of a company are required to file the voluntary administration statement.
Voluntary administration statement can be filled out by providing detailed financial information about the company's assets, liabilities, and creditors.
The purpose of the voluntary administration statement is to start the process of voluntary administration, where an independent administrator takes control of the company to assess its financial situation and decide on the best course of action.
Information such as company financial statements, creditor details, and reasons for insolvency must be reported on the voluntary administration statement.
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