October: Australian Politician and Succession Process

october: The South Australian politician announced his resignation on October 17 after his company Home Australia went into liquidation, according to Australian Broadcasting Corporation. The party had met on the weekend to work out the succession process, but those plans are now on hold. Related Story: Bob Day could stay in Senate if white knight saves troubled company Related Story: Family First senator urged to explain business demise Related Story: 'I will repay all debts': Day pledge as political career ends Map: Australia Family First Bob Day says he may stay on as a senator if new investors manage to save his troubled construction company. In a statement, Senator Day said he would return to Parliament in the next sitting week following investor interest in his business. "If new investment revives the company, if houses are being completed and trade contractors and others are being paid, then I may continue as a senator," he said. "If not, my resignation will proceed and I will devote myself to assisting those affected by the Group closure." Senator Day said that liquidator McGrath Nicol had been assessing offers and would be holding a creditors' meeting early next month. Senator Day is a shareholder in Home Australia and has made personal guarantees to some of the creditors. Earlier this week, a spokesman for McGrath Nicol told the ABC there had been a lot of interest in Home Australia assets. (news.financializer.com). As reported in the news.