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 entitlements are saved by the package.

After a forensic, 15-week administration event, Grant Thornton confirmed that two other serious bids of around $30 million had been received for the Fairview business, but neither included the job saving guarantees which the FVA Group's offer pledged.

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Details of the proposed creditor liability trust reveal a $1 million cash fund contribution, to provision a prior class action, plus access to the old company's insurance policies.

CEO of FVA Group, Greg Stewart said it had been a challenging time for the Fairview team but he commended everyone for all their efforts.

"We are grateful, too, for the big vote of confidence from the creditors and our supply chain which allows FVA Group to robustly take this business forward into a new era," he said.