Towie,
I can see your point, but if you read the voting form, there is NO resolution to adjourn the meeting. The meeting can ONLY be adjourned by the Federal Court. There is no provision for creditors to have the meeting adjourned.
There are really only 2 paths from this meeting as per the resolutions on the table:
1. Administration continue
2. DOCA ( but there is nothing on the table so this is irrelevant IMO)
3. Liquidation
IMO, liquidation is the path to litigation, where you have the best chance to get your capital back. Liquidation allows all the evidence against the bank to be examined and publically aired. An administator does not have the powers to do this. A liquidator does.
Forget mediation mate. Remember the 'wholistic commercial settlement' words were from a pommy banker. Do you really and honestly believe what he said?
opes, page-19
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