and vote for the company to be liquidated so investigations into the actions of its directors can be pursued.
Although the administrator PwC has advised creditors to back the new deed of company arrangement because of the higher anticipated return to creditors and quicker process, the committee said it should be vetoed. The committee said it weighed the marginal financial benefit of accepting the proposed deed of company arrangement that is expected to return between 3.1¢ and 4.4¢ in the dollar versus tipping it into liquidation, which would recover between 0.6¢ and 3.9¢.
If the DOCA fails, the group could be put into liquidation, which would require the successful recovery of a significant intercompany loan owed to DASS.
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