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 Grower plan to bail out ab farm 

Grower plan to bail out ab farm

23 Sep, 2009 11:30 PM
GROWERS have put forward a proposal to recapitalise Australian Bight Abalone after it went into voluntary administration in July.

A second meeting of ABA creditors is planned for around October 14 to consider the proposal.

An initial creditors meeting was held in July and a second meeting was planned for earlier this month but the meeting was delayed to give administrators McGrathNicol time to consider the proposal from the growers.

A report on the proposal will be prepared and given to creditors before the October meeting.

McGrathNicol said it was making progress toward recapitalising the Elliston-based abalone farm.

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