McGrathNicol provides ambiguous details on creditors meeting agenda.
Ferrier Hodgson has placed advertisements online and in national and international newspapers to invite expressions of interest for the Dick Smith and Move businesses in Australia and New Zealand, to be submitted on or by 27 January 2016.
Simultaneously, Dick Smith has scheduled the first creditors meeting on Thursday in the Sydney CBD. The meeting will determine whether or not to appoint a committee of creditors, and if so, who the committee members will be.
The meeting will also allow creditors to consider the removal of the administrators and appoint an alternative administrator, who has consented to act.
According to a company statement from McGrathNicol, the first meeting will provide an opportunity for the administrator, McGrathNicol, to brief creditors with some limited, high level information. However, creditors should not expect any report on the financial position, reasons for failure or future of the Dick Smith entities.
The statement continued, “The administrators expect the meeting to include finance creditors, trade creditors, employee creditors and customer creditors, particularly those holding Dick Smith gift cards and those who have paid deposits on goods that have not been provided. Customer creditors are asked to bring their Dick Smith gift card, confirmation of deposit or other evidence to the meeting in order to be admitted.”