Creditors accept deal for fraction of $490m owed by Craig Gore | News.com.au

<a href="http://www.news.com.au/business/creditors-accept-deal-for-fraction-of-490m-owed-by-craig-gore/story-e6frfm1i-1225956311627">Creditors accept deal for fraction of $490m owed by Craig Gore | News.com.au</a>: "FALLEN Gold Coast businessman Craig Gore has avoided another personal bankruptcy after creditors yesterday overwhelmingly accepted a deal in which they will recover just a fraction of the $490 million owed to them. <br />Creditors voted for a resolution approving a Part X personal insolvency agreement for Mr Gore which allows him to make payments of less than 1¢ in the dollar without going bankrupt.<br />Under the scheme, Mr Gore must pay just $3 million over three years, with $300,000 due immediately and another $83,333 a month paid out over 36 months. He must also turn over 30 per cent of the net profits earned by one of his unit trusts."

Creditors accept deal for fraction of $490m owed by Craig Gore | News.com.au

Creditors accept deal for fraction of $490m owed by Craig Gore | News.com.au : "FALLEN Gold Coast businessman Craig Gore has avoided an...

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