AUSTRALIA: Creditors Save Tony Barlow From Liquidation

Creditors of Tony Barlow Menswear have rejected a proposal to put the firm into liquidation, voting instead for a deed of company arrangement which involves a $200,000 cash injection.   In a report dated 10 June administrator Vincent Smith, of Norgard Clohessy, said he believed Mr Barlow could have allowed the group to trade while insolvent for up to 12 months. He recommended the company, Boutique Consolidated Pty Ltd, which trades as Tony Barlow Menswear, be placed in liquidation and that creditors pursue a $1 million claim of insolvent trading against Mr Barlow Tony Barlow Australia.