Keddie creditors shedding trustees

Casa Barakat, Roseville Chase
Photo: SiN Images

CREDITORS of the former partners of legal firm Keddies want to slash the number of bankruptcy trustees in a bid to reduce fees - and who can blame a former Keddies client for being a little testy on that topic?

The first step towards paring the four trustees back to one will be taken on December 19 when former partner Tony Barakat submits a proposal for a composition.

The composition - under section 73 of the Bankruptcy Act - comprises an offer by Barakat of $2 million.