The administrators signalled in their report that the total claims of 4606 URF investors were sitting at more than $367.9 million.
Shine Lawyers, which headed the class action against the company, and four other investors make up the COI.
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.
The return is in no way proportionate to the losses sustained, and it is not significantly more than may be achieved through liquidation and ongoing class actions.
It said supporting the proposed deed represents tolerance of this conduct by directors.
Th…
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