Notice is given that a meeting of the eligible employee creditors of the Company, or a meeting for each of the Companies, (for multiple companies), will be held:
(If multiple companies, see special instructions for meeting times)
Agenda items are:
? The Employee Meeting will be held before the second meeting of creditors pursuant to section 439A of the Corporations Act 2001 (Cth) (Act) (Second Meeting), where creditors will be asked to consider a proposed Deed of Company Arrangement (DOCA). Among other things, the DOCA provides that all employee entitlements of the Company, except superannuation, will be preserved and paid by the Company in the ordinary course of business. Further details regarding the DOCA and its impact on eligible employee creditors is set out in the Administrator?s report pursuant to 75-225 of Insolvency Practice Rules (Corporations) 2016 (Administrator?s Report).? The purpose of the Employee Meeting is for eligible employee creditors to consider a resolution pursuant to section 444DA(2) of the Act that the DOCA not include a provision that eligible employee creditors are entitled to a priority for preserved entitlements in accordance to section 556, 560 and 561 of the Act. ? This means that it is proposed that claims for leave entitlements of eligible employee creditors i.e. those staff who remain employed by the Company will not be paid from the DOCA (other than claims for overdue Superannuation Guarantee Charge and superannuation relating to the period prior to the Administration). Instead, such claims will be preserved and will be paid by the Company in the ordinary course of business. ? The non-inclusion of the priority provisions set out in sections 556, 560 and 561 of the Act, will result in only amounts relating to outstanding superannuation guarantee charges outstanding as at 24 March 2025 being made to continuing employees from the DOCA. ? This means that whilst amounts are not paid to continuing employees from the DOCA, all their rights to claim entitlements continue as they have continued employment and may take leave as a part of their ongoing employment. ? The effect of Insolvency Practice Rules (Corporations) section 78-85 (entitlement to vote at meetings of creditors, which applies to employee voting at a meeting of this type) is as follows: -o A person other than an employee creditor (or the employee creditors proxy or attorney) is not entitled to vote at a meeting of employee creditors. o Subject to section (c) and (d), each employee creditor is entitled to vote and has one vote.o A person is not entitled to vote as an employee creditor at a meeting of employee creditors unless: ? His or her debt or claim has been admitted wholly or in part by the external administrator; or ? He or she has lodged, with a person residing at the meeting, or with the person named in the notice convening the meeting as the person who may receive particulars of the debt or claim:? Those particulars; or ? If required ? a formal proof of debt or claim.o An employee creditor must not vote in respect of: ? An unliquidated debt; or ? A contingent debt; or ? An liquidated or a contingent claim; or ? A debt the value of which is not established Unless a just estimate of its value has been made. ? Proofs of debt and proxies must be submitted by 5pm, 1 May 2025. ? If an employee is not able to attend the employee meeting they should appoint a proxy to vote on their behalf. The proxy form allows employees to submit a proxy for the employee and the second meeting.
Eligible employee creditors wishing to attend are advised proofs and proxies are to be submitted to the external administrator by:
Eligible employee creditors wishing to attend the meeting using virtual meeting technology are advised they can use the following facility to attend the meeting:
Paul William GidleyAdministrator
