More than 50 home building companies put themselves forward to take on the work in progress of collapsed builder Builton, with JWH Group emerging as the administrators' top choice.
KordaMentha managing partner Cliff Rocke has taken on a new role, joining the Perth office of the advisory firm that is handling the collapse of residential construction group Builton.
A company associated with Builton appears to be manoeuvring to complete two of the biggest jobs of the failed development and construction company – the Quattro on Burswood and Vue Maylands apartment projects.
The collapse of yet another Western Australian residential builder appears set to further upset the delicate state of the sector, with financiers, insurers, 350 trade creditors and as many as 130 home owners facing losses.
One of state's biggest residential construction firms, Builton Group, has succumbed to the financial stresses engulfing the sector, appointing an external administrator earlier today after reports of the company's financial troubles emerged last week.
UPDATED: Residential construction outfit Builton Group is closing its doors, after staff were told not to come to work on Monday, while an announcement that the company has been placed into administration expected later today or over the weekend.
