Pascoe to tackle Obeid trusts if appeal bid fails

PPB Advisory's Scott Pascoe.
Image courtesy PPB Advisory.

PPB Advisory's Scott Pascoe has agreed to act as trustee in bankruptcy to the estate of Moses Edward Obeid, in the event the son of former NSW Labor minister Eddie Obeid fails in his bid to reverse a $12 million debt judgment.

Pascoe consented to act after the City of Sydney Council commenced creditors petition proceedings against Obeid in the Federal Court on June 5.


 The petition is the latest in a series of bankruptcy-related applications the council has pursued since February, 2012, when the Supreme Court finalized orders from its 2011 judgment awarding damages in the millions to the Council in its dispute over smart poles with 41 year-old Obeid and his company, Streetscape Projects (Australia).