Lion Property Group founders declared bankrupt as pressure mounts on ASIC over collapse
The directors behind collapsed property syndicator Lion Property Group have both been declared personally bankrupt as political and investor anger intensifies over the handling of the $122.5 million collapse and ongoing regulatory investigations.
ASIC remains under pressure over its handling of the failed Lion Property Group collapse, which left hundreds of investors exposed. (Image source: Mehaniq/Shutterstock.com)
The directors of failed $122.5 million Lion Property Group, Garry Pesochinsky and John Sader, have both been declared personally bankrupt.
Filings with the bankruptcy register show shows Garry Pesochinsky, 48, was registered as a bankrupt on 27 April; and John Sader, 46, was declared bankrupt on 10 March.
The filings with the National Personal Insolvency Index show Andrew Yeo, a partner of Pitcher Partners, has been appointed “registered truste…
