The Panel, Robyn Ahern, Teresa Handicott and Anthony Sweetman, having commenced proceedings, declined to make a declaration of unacceptable circumstances in relation to the affairs of Midwest.

These are the Panel’s reasons for declining to commence proceedings in response to an application by Panga Pty Ltd in relation to the affairs of Financial Resources Limited and a proposed shareholder meeting to consider a restructure and recapitalisation proposal that would, if approved, result in Questus Capital Group Pty Ltd increasing its voting power in Financial Resources to 48.8%.