The creditors also resolved to appoint a committee of creditors to Gympie and two of its subsidiaries, Gympie Eldorado Gold Mines and Southland Coal.

Hayes told the meeting the assets of the group were under the control of receivers and managers and it was unlikely unsecured creditors would receive information on the size of any return to them until the extent of the damage to the Southlands colliery has been assessed.

He said further information would be provided to creditors at the second meeting, which would be convened towards the end of the month. MiningNews.net