BY STAFF WRITERS

Former Penrith Panthers forward turned property developer Lou Zivanovic has been banned from managing a company for three years after 18 of his building companies went belly up. 

The ban had been suppressed since February of 2016 by the Australian Securities and Investments Commission with the decision under appeal with Zivanovic able to return to work from February 2019.

According to ASIC, creditors were left with unpaid debts of $26.8 million.

Zivanovic told The Sydney Morning Herald $24.5 million was owed to him by “inter-company loans”.

One of Zivanovic’s companies – CABE – was approved for a $500 million property development close to Panthers Stadium earlier this year.

Zivanovic played 116 games for the Panthers between 1979 and 1986.