Elanor Commercial Property Fund's (ASX:ECF) independent board committee urged securityholders to vote against a resolution brought by The Lederer Group to remove Elanor Funds Management as the responsible entity of the fund and appoint Evolution Trustees as the new responsible entity, according to a Friday Australian bourse filing.

The resolution will be passed if at least 50% of the Elanor Commercial Property Fund securities actually voted at the meeting on Jan. 30 are in favour of the resolution. Lederer holds 42.68% of all of the fund's securities, and it is likely that the resolution will pass, per the filing.