Collateral investors to vote on creditor committee members
RELENDEX and BondMason executives are on the shortlist to sit on the creditors committee of failed peer-to-peer platform Collateral, ahead of a stakeholder vote.
BDO, which was appointed administrator of Collateral in May, had proposed setting up the creditors committee to help oversee the wind-up of the business but received 13 nominations despite only requiring between three and five.
It has now decided to let creditors and investors vote for their preferred nominees, with one vote allowed per person.
Relendex board member and founder of P2P investor 3S Capital Partners Andrei Dikouchine is among the nominees, alongside hedge fund manager Avi Rapaport and Graham Martin of alternative lending fund BondMason.
Nominees also include regular P2P investors Steve Wozniak, Rodney Buckland, Anthony Leech, Adam Bunch and Scott Gorman.
A number of current and retired accountants and insolvency practitioners are also on the list, including James Shutler, Roy Hughes and Peter Lawrence.
The list of nominees is completed by business analyst Richard Winslow and retired business development director for Civica Peter Hunt.
“13 nominations were received from investors in response to the administrators’ proposals, which is more than the maximum number of members allowed,” BDO said.
“The administrators are therefore reverting to the general body of investors and creditors to determine the membership of the committee.
“Investors and creditors have the opportunity to indicate which of the thirteen nominees they wish to participate.”
Nominations must be delivered no later than 7 August and a decision will be made a day later.