can the administrator sell the company yet?

I posted this comment on the Save Ventracor website earlier this afternoon and was wondering if anybody else new the legal standpoint on the matter...

'In these communications with creditors, I advised that the convening period for the second meeting of creditors ended on 31 April 2009.' Mr Sherman, I can't be certain but isn't there only 30 days in April?

On a more serious note, "It should be noted that it is not my intention to utilise the full 60 day extension period and will proceed with issuing my report to you and convening the second meeting upon being in a position to report to creditors on each of the options available so as to enable you to make an informed decision as to the future of the company."

Both of these quotations were taken from Steve Sherman's 2nd Creditors Meeting Adjournment notice which can be found at http://www.ferrierhodgson.com/en/Current%20Matters/Corporate%20Recovery%20Matters/Ventracor%20Limited.aspx It is my understanding then, that he won't sell the company without first convening the second creditors meeting to, "...report to creditors on each of the options available so as to enable you to make an informed decision as to the future of the company". Can anyone from Save Ventracor confirm this?

May 10, 2009 9:29 PM http://saveventracornews.blogspot.com/2009/05/news-story-ventracor-life-support-is.html#comments

Further to this (and this was not a part of my earlier posting on Save Ventracor's site), the good people at Save Ventracor recently informed shareholders that they must raise at least the equivalent bid amount ($10m) issued by Orqis Medical for the DoCA to be taken seriously. It is also my understanding that,

"At the second meeting of creditors, the creditors of the Company will be given an opportunity to consider the following:
any proposed Deed of Company Arrangement..."

http://www.ferrierhodgson.com/en/Current%20Matters/Corporate%20Recovery%20Matters/Ventracor%20Limited.aspx

Therefore, given that the creditors should be presented ANY DoCA to deliberate on, why should we have to raise the equivalent amount that Orqis Medical has proposed to have it submitted to the second creditors meeting?