AZZ 0.00% $7.50 antares energy limited

Administration, page-23

  1. 111 Posts.
    And this meeting could have happened sooner (I believe it has to be <10 business days?), yet in typical JC fashion he has extended to the last minute. Following this the vote to change administrators is both on i) value of holding and ii) show of hands of creditors.
    Change of admin will win on value. Show of hands is a different matter because JC has lots of mates with small holdings and may have split his family holding to 1 note per second cousin etc which provides them same vote as somebody holding $10m. If a draw, then the chair (Pitcher Partners) casts the deciding vote.
    Any objection then has to go through the courts.
 
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