Voluntary administrators then try to investigate into the company’s business operations and propose solutions to salvage the issue. They maintain affairs, react to the financial circumstances, report to the creditors and try to find viable alternative solutions. On 4th Januafe 2016, the board passed a resolution to appoint Joseph Hayes, Jason Preston, William Harris and Matthew Caddy of McGrathNicol as voluntary administrators. It was expected that these individuals would create a report to creditors and recommend probable solutions to the company. The company was expected to into insolvency, liquidation or proposal to end the administrative control over the company or if the control of the company should be handed back to the directors will be probed by these people who had been appointed (Low, 2016). Any offenses of the company were expected to be reported to the ASIC for probable violations of protocols. This administration is the formal protocol where the insolvency practitioner is appointed as the administrator of the company directors. Once the administrative orders are granted it is deemed that all the legal actions against the company are stayed for 8 weeks. The administrator should then draft the proposals for the creditors to develop viable alternative in the creditors meeting. Joseph Hayes, Jason Preston, William Harris, Matthew Caddy gained control over all the operations of the company. Their primary goal was to act in best interest of the creditors of the company and repay their money as much as possible. It was evident at this point that the insolvency of the company was inevitable. Owing to this it was deemed mandatory that administrators develop a policy in accordance with these arrangements.