Bettina Liano makes move for business
01 Aug 2011
Administrators for collapsed denim stalwart Bettina Liano have confirmed industry speculation that a Deed of Company Arrangement (DOCA) is currently being considered from the director.
Director Bettina Liano issued the DOCA, a document which records the terms of restructuring a company and completes the process of a voluntary administration, to administrator Ferrier Hodgson.
A DOCA is a compromise or arrangement approved by creditors of the company, and in this instance will be voted upon at a second meeting of creditors on August 8.
While administrators told the first meeting of creditors that no offers had been submitted to purchase the company, Ferrier Hodgson told Ragtrader a number of interested parties have since come forward.
For more, pick up a copy of Ragtrader’s August 12 edition.