The administrator of Epsilon Healthcare has confirmed the departure of chairman Josh Cui and board director Stuart Cameron after the duo lost a battle to retain control of the company.

In an announcement to the ASX late yesterday, Ian Purchas from SV Partners said he had “used his powers…under the Corporations Act to remove Cui and Cameron as directors of the company”.

Former chief executive Peter Giannopoulos has been reappointed as a director, along with Zoe Hutchings. They will join Alan Beasley on the board.

The departure of Cui and Cameron follows a tense creditor’s meeting during which two competing bids were tabled to lead the company out of administration; one from Cui and Cameron and a second from Beasley and Giannopoulos.

Purchas used his casting vote to support the Deed of Company Arrangement put forward by Beasley and Giannopoulos after the plan received nine votes in favour and nine against.

The company went into voluntary administration late last year amid a boardroom rift which saw Cui and Beasley trade insults and accusations.

Steve has reported for a number of consumer and B2B titles over a journalism career spanning more than three decades. He is a regulator contributor to health journal, The Medical Republic, writing on...

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