Ann: Circular to Creditors and Noteholders-KBL.AX, page-7

It depends upon the democratic vote of the Creditors at their 1^st Meeting on Sep 20. If I was 1 of these Creditors and

a) was owed a substantial amount
b) was given some sort of opinion by the Administrators that there was a good chance of getting operations back up & running, if given the support of the majority of Creditors

I’d give serious consideration to waiting longer for settlement of KBL’s debt to me if it meant I got a bigger distribution – because of the resumption of activities – rather than vote now for a wind up and possibly get SFA.
One has to realise though that the A’ors fees are meantime steadily going to deplete coffers that might result in shareholders having to stump up some more $ to get the Company back up & running again. I’d support that move, rather than risk losing the whole of my outlay on my albeit small-value shareholding.
(1 thing’s for sure – in my next life I’m going to do a Degree in Corporate Insolvency Administration. The fees we shareholders have to provide KBL’s A’ors are only so damn high because of the rent they pay for their chosen luxurious & almost “penthouse style” offices in cap city CBD’s. (As a qualified accountant & Co. Secretary, decades ago I worked for CBD-based major accounting firms (in Audit Management and Tax accounting) engaged by medium-sized corporate clients. IMO these firms have NEVER needed to be based in CBD's – rents are far less in the suburbs.)