A LAND development company headed by Toowoomba businessman Mark Peart that was to undertake a multimillion-dollar project north of Toowoomba has been tipped into liquidation.

Homestead Highfields was placed in voluntary administration by Mr Peart on April 21.

At a second meeting of creditors on Tuesday, creditors knocked back a proposal from company directors Mr Peart, his wife Fiona, and Grant Allsop to enter into a Deed of Company Arrangement.

The vote paves the way for former administrator-now liquidator Jason Bettles of Worrells Solvency and Forensic Accountants to investigate the reasons behind the company’s collapse.

Homestead Highfields is the fifth of Mr Peart’s ventures to fall into external administration in the past 19 mont…

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