A meeting of creditors of Solid Energy New Zealand Limited (SENZ) (administrators appointed) held in Christchurch today is the first in the five-week voluntary administration process.
The gathering of creditors voted against forming a creditors’ committee and voted to retain the existing Administrators, Brendon Gibson and Grant Graham of KordaMentha, as per the statutory framework outlined in the Companies Act 1993.
The second creditors’ meeting – known as the watershed meeting – is being held on Thursday 17 September in Christchurch. At that time, all creditors will be entitled to vote on the future of the companies in voluntary administration.
Creditors will receive the notice of meeting and administrators’ report one week prior to the watershed meeting, on 10 September.
This report will include a full analysis and independent recommendation regarding the Solid Energy Board’s proposal that was released when the companies entered voluntary administration.
