Staff at Lithgow company Fairview got good news last week, after Creditors endorsed a business rescue package for the firm. In recent months, the business had entered voluntary administration after some challenging commercial headwinds. The highlights of the recommended business rescue package include: At a meeting trade creditors voted overwhelmingly to accept the independent resolution by Grant Thornton that a Deed of Company Arrangement (DOCA) submitted by FVA Group was in creditors’ best interests. Uniquely, all unsecured trade creditors will receive a full, 100 cents in the dollar under the FVA Group package. Another key group whose interests were fully protected by the FVA Group DOCA, were the 57 Fairview staff whose jobs and enti…
Read the full article at: https://www.lithgowmercury.com.au/story/6996301/57-lithgow-jobs-saved-as-business-rescue-package-protects-fairview-workers/