Meeting Of Creditors

Agenda items are:

• to receive and consider a report from the external administrator(s)
• to consider a summary of the receipts and payments of the external administrator(s)
• to fix or determine the future remuneration of the external administrator(s)
• to appoint a committee of inspection and, if so, who are to be the committee members
• to consider the early destruction of books and records

• That the Deed of Company Arrangement be varied in accordance with the proposal set out in Section 5 of the Deed Administrators Report to Creditors dated 24 November 2020.
  
  
  
  Subject to him being able to obtain sufficient funds to conduct the proceedings, that the Deed Administrator be directed pursuant to section 85-5 of Schedule 2 of the Corporations Act to prosecute proceedings against Sydney Borg and Chanel Borg under the Deed of Guarantee and Indemnity given by the pair in November 2018 so as to enforce their personal guarantee of the payment obligations of the Deed Companies under the Deed of Company Arrangement.
  
  
  
  That the Deed of Company Arrangement be terminated.
  
  
  
  That the Company be wound up.