Peter Penny through his company Staveley Group Limited and his friend through his company Mace Investments Limited voted for the voluntary arrangement, each with 25% of the ordinary shares in Morton Medical.

As the shareholders were tied 50-50 the proposal put forward by the director Peter Penny of Morton Medical Limited were deemed approved.

Peter Penny the director of Morton Medical was due to pay all creditors the first part payment (dividend) of 12 pence in the pound in June 2010 in accordance with the proposal by the insolvancy practitioners CBA.  Today, which is the 2nd October 2010 no payment has been made to any creditors.

Below is the document issued by the insolvency practitioner.