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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