Millennium3 welcomes outcome of Superwomen creditors meeting
Millennium3 welcomes the outcome of a creditors’ meeting to resolve the ownership and financing of the Superwoman business.
Millennium3 will continue to work through due process with the administrator to protect the interests of creditors, staff and clients of Superwoman.
Creditors of Financial Solutions Group voted in favour of the Deed of Company Arrangement proposed by 50% shareholder and major creditor Millennium3.
The Millennium3 proposal involves paying all creditors in full and taking control of the assets of the business so that it can provide ongoing support for the business and its brand.
Millennium3 is particularly pleased that Superwoman staff voted in favour of its proposal and views this as a vote of confidence in the future of the business and Millennium3’s management.
It is also pleased that a proposal to defer the resolution was defeated as this would further delay the outcome and would not be in the interest of the business, creditors, staff or clients.
13-Jul-2007