Ann: Circular to Creditors and Noteholders-KBL.AX, page-9

the first meeting is only to validate the appointment of administrators
The creditors can kick them out and appoint someone else

It will also determine if a committee of creditors is formed.

This is a committee that receives reports on the administration.

It is the second meeting that determines whether to continue to operate under a DOCA, return the company to directors or liquidate. usually around 6 weeks after the first.

It wont trade again unless it is returned to directors or all debts cleared under DOCA

I believe votes are according to size of debt owed.

Might be a good idea for noteholders to band together and vote as a block. Even try and get on the creditors committee if they vote for one.

good luck all. not a good place.