The second meeting of creditors is according to the "Circular to Creditors" I received today, is to be held on 20 Mar.
I probably can't attand but I will send a proxy voting in accordance with the Administrator's recommendation that the companies be wound up.
As I understand the process the total cash pool obtained by the liquidators goes firsty to pay them and secondly to meet all secured debts. What remains (if any) is then divided by the total unsecured debt to obtain a dividend eg 6 cents in the dollar. I believe AFGHA holders are in the unsecured debt pool.
I would love to hear what other AFGHA holders think about this circular.
The second meeting of creditors is according to the "Circular to...
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