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Worldspreads - Outcome of the initial meeting of creditors and clients

Worldspreads initial creditor meeting outcome

Outcome of the initial meeting of creditors and clients held on 23 May 2012 at the Methodist Central Hall, Storey's Gate, London, SW1H 9NH


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The initial meeting of creditors and clients was held on 23 May 2012. At the meeting the Special Administrators presented their proposals to creditors and clients and a copy of the presentation slides can be found here:

The resolution to approve the Special Administrators’ proposals was passed by both creditors and clients. The voting percentages were:

  Client Creditor
For 99.51% 100%
Against 0.49% 0%

* Note: A creditor proxy representing 0.47% of the total votes received was invalid.

Creditors and clients elected a creditors’ committee comprising three clients and two creditors. Those elected to the committee are as follows:

Creditor-elected member Votes received (£) Client-elected member Votes received (£)
FSCS 276,196.92 Gareth Zarpelion 3,234,810
Kallinos Communications 28,310.00 Alexander Ong 109,994
    Alistair Lennard 251,511

The Special Administrators are in contact with the elected candidates to complete the formalities of establishing the committee and will then call the first meeting. The committee will only be formed when the Special Administrators issue a certificate of due constitution. At the first meeting of the committee we will seek the consent of committee members to making their contact details available on this website. 

The Chairman's report on the Initial Meeting can be found here: 

Further note

WorldSpreads Group Plc, the parent company of WorldSpreads Limited was placed into creditors’ voluntary liquidation, with George Malloney of Baker Tilly Ryan Glennon being appointed as Liquidator.

We were asked by clients and creditors present at the Initial Meeting to make their contact details available. Accordingly, the contact details for Mr Maloney, the Liquidator of WorldSpreads Group Plc, are:

Baker Tilly Ryan Glennon

Trinity House

Charleston Road


Dublin 6

Tel: +353 1 496 5388

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