CREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday.
The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million, an offer of less than half a cent in the dollar.
The debts relate to Mr Palmers time as director of various companies owned by fallen tycoon Nathan Tinkler.
Mr Rapsey, of Hunter Street, Newcastle, firm Rapsey Griffiths said Mr Palmers offer was put to a meeting of creditors at his office on Friday afternoon.
He said none of the creditors were present in person the voting was all by proxy or telephone and the …
Read the full article at: http://www.theherald.com.au/story/5275798/creditors-reject-palmer-offer/?cs=12
