Equestrian Australian avoids liquidation as creditors agree to reform

Troubled national sporting organisation Equestrian Australia has avoided liquidation with creditors having agree to support administrator KordaMentha’s proposal to reform the sport.

In June, Sport Australia forced the NSO into voluntary administration, deeming its governance unacceptable after the resignation of eight directors and three chairs in just over 16 months.

As of Tuesday this week, an online creditors meeting agreed the administrators’ proposal, endorsed by Sport Australia, the Australian Olympic Committee and the international equestrian body, as the most likely route to having Sport Australia’s funding reinstated.

However, prior to the acceptance of KordaMentha’s proposal, five of Equestrian Australia’s state branches (NSW, South Australia, Tasmania, Victoria and Western Australia) threatened to block the proposed reforms - risking the body’s liquidation and a liability for bigger debts - was voted down.

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