News Articles for Avid Resources

A year-long court stoush over a $1.3 million bill has come to a dramatic end, with contractor Decmil succeeding in its bid to wind up Avid Australia Holdings.

A probe has cast doubt over AvidSys's ability to repay $1.3 million to contractor Decmil after it was revealed the company's debts exceed $26 million.

When administrators from Deloitte walked into the West Perth offices of WBHO Infrastructure in February, they knew speed would be critical to rescuing the business.

Decmil has won its court stoush with Avid Australia over $1.3 million in unpaid bills Avid Resources contested before its collapse, ending a six-month long legal battle.

Decmil remains locked in a bitter battle with Avid Australia over $1.3 million in bills subsidiary Avid Resources disputed before its collapse.

Unsecured creditors of Avid Resources are likely to receive nothing, but liquidators have said they will consider an insolvent trading claim.

The state's tax collection agency has lodged a winding up order against AvidSys, three months after related Avid entities entered administration.

There were 28 insolvency appointments to Western-Australian-incorporated companies over the five-week period.

Avid businesses may have been insolvent as early as November 2019, administrators believe, with underquoted tenders and a Decmil dispute contributing to the demise.

There were 21 insolvency appointments to Western-Australian-incorporated companies over the past two weeks.

Osborne Park-based Decmil Group is chasing Avid Australia for more than $1.3 million it claims it's owed for works at Rio Tinto's Mesa mines, just one week after Avid's subsidiary went bust.

AvidSys Group's engineering subsidiary, which comprises three businesses formerly part of RCR Tomlinson, has laid off more than 100 employees after falling into administration.

NSW's Downer EDI has sold its remaining mining services assets to a joint venture that includes Perth-based AvidSys Group for $150 million in cash.

The sale of RCR Tomlinson's Western Australian operations is complete, with RCR Resources, RCR Power and RCR Water West sold to AvidSys Group for an undisclosed sum.