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Problem Question 2 traaly and Mei Ling ar Eric, Acme's company that supplies food products to cafes around Brisbane. In recent times CafeNowo have been pressured because several large customers, including paying their e franchise coffee shop with hundreds of outlets), have been late in Ltd) has written evicted from the premises. (a large Acme has not had s to pay its bills, particularly rent. The owner of its warehouse (Leaseco severat leffers warning that if Acme is late in paying its rent, it will be This has meant that on several occasions same time as the company's cash flow troubles, the employees take industrial an attempt to receive a pay increase. This strike stops deliveries from the days, with several customers cancelling their supply contracts with cash flow problems are increased, when the company's bank, Eastbank At the warehouse for two Acme. The cash Ltd, threatens to appoint a receiver over the company, if it does not pay its monthly interest within two weeks. xreci Mary and Mei Ling convene a board meeting to consider their options. Eric and Mei Li Mary, however, would like to sell out and change industries. ng would like to negotiate with their creditors to restructure the company's debts. (a) Advise Eric, Mary and Mei Ling as to their options under the external administration procedures under the Corporations Act, including the advantages and disadvantages of such procedures. (b) What impact would the procedures have on Acme's creditors

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