Former Commonwealth Bank and Westpac senior executive Lyn Cobley is joining the CBA board as an independent non-executive director. Cobley was CBA group treasurer and the chief executive of Westpac’s institutional division. She will join the board next month, replacing Shirish Apte, who is standing down after being on the board since 2014. Collection House administrators have scheduled a creditors’ meeting for September 13, where they will put the proposed deed of company arrangement with Credit Corp, which has offered to buy what is left of the failed debt buyer and collection agency. The administrators have recommended that creditors accept the DOCA, which would deliver between 3 and 8 cents in the dollar to unsecured creditors. There will be no return to shareholders.