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.