News Articles for Pindan

A contractor of failed builder Pindan claims its decision to work on Rio Tinto's $90 million Gudai-Darri mine camp has cost it $3 million, as it gears up to claw back the facilities it supplied.

A Pindan contractor allegedly left $1 million out of pocket by the company's collapse is now pursuing Rio Tinto for the cash, demanding it hand back the facilities at Gudai-Darri.

Apartment developers are facing increasing costs amid tightening margins and constrained supply.

A City of Fremantle report has revealed construction costs for its new civic centre have blown out by $16 million.

Creditors of Pindan Constructions are set to find out how much of their debt will be recovered in a matter of weeks, 14 months after the building group collapsed owing creditors $90 million.

St John WA has snapped up the Belmont property for $11.55 million, as part of its expansion plans.

The developer behind East Perth's $23 million Ibis Styles hotel is suing one of its subcontractors for damages after a water leak forced the closure of several rooms within months of it opening.

WA building companies are learning from the collapse of competitors over the past 12 months.

Fremantle's Walyalup Civic Centre navigated some choppy waters to emerge as the top project at this year's WA Architecture Awards.

Builders are struggling to stay afloat amid a sea of cost, labour and supply chain issues.

The 11,000 square metre Belmont property once occupied by collapsed building company Pindan is up for sale, one of several assets to hit the market.

A lack of homeowner warranty insurance for apartment developments can be a deterrent for buyers, but industry is seeking change.

Creditors of Pindan and its contracting arm have accepted a $14.3 million deal from its parent company, despite more than 220 getting an average return of less than 0.56 per cent.

UPDATED: Administrators have recommended Pindan Group's creditors accept Oxley's $14.3 million payment offer, but that claimants from its contracting arm reject the move.

Kwik Haul is suing Pilbara Resource Group for damages over an alleged breach of its service agreement.

Pindan's Singaporean owner has upped its deed of company arrangement proposal to $14.3 million, lodging the third and final offer ahead of the creditors meeting next week.

Aged Care provider Rosewood has employed its own contractors to finish its $70 million West Leederville facility, after work was brought to a standstill by the collapse of Pindan.

An eleventh hour move by Pindan's Singaporean owner to almost double its DOCA proposal to $12.3 million will lead to an adjournment of a planned creditors' meeting tomorrow.

Contractors and employees left out of pocket by the collapse of Pindan could face further payment delays, as Oxley Holdings revises its $7.5 million offer amid threats of legal action.

A $20 million bid to save construction giant Pindan Group was withdrawn 48 hours before the company entered administration.

Pindan Group's Singaporean owners have proposed a DoCA with $7.5 million for employees and creditors in the coming weeks.

Pindan Group's offshore owner has provided a $17 million loan to pay out its secured creditor as it works on a restructuring for other creditors owed $75 million.

A rapid swing in momentum in the construction market has toppled businesses, and there are signs more could follow.

The administrators of embattled construction company Pindan have been granted another extension, while flagging a potential claim against the company's directors for insolvent trading.

The state government awarded Pindan two multi-million dollar contracts despite having assessed the company as a financial risk because of its failure to meet several financial thresholds.

The state government has confirmed its $35 million per year social housing maintenance contract will continue following the approved sale of Pindan Group's asset management arm.

New legislation aims to provide better protection for payments to subcontractors, but some say it misses the mark.

WA's civil construction industry could be facing the perfect storm.

The Supreme Court has granted the administrators of Pindan an extension of the convening period to facilitate the sale of the company's asset management arm.

Australian maintenance services provider Programmed has taken over the operation of Pindan Group's asset management arm today, a move expected to preserve more than 100 jobs.

Dozens of subcontractors and employees affected by the collapse of construction giant Pindan have rallied on the steps of Parliament House this afternoon.

Creditors have given administrators the green light to delve into the affairs of embattled construction giant Pindan Group, with an investigation of whether there was any insolvent trading.

There were 29 insolvency appointments to Western-Australian-incorporated companies over the past two weeks.

The state government is expected to introduce a new bill to improve security of payment across the state's construction industry today, one week after the collapse of construction giant Pindan.

The state government has today released funding to facilitate the operation of the asset management arm of Pindan Group, with interest from parties hoping to restructure the business.

The Pindan group paid EY $120,000 to conduct a review of its business in 2019 and again engaged the firm's insolvency experts to provide restructuring assistance in May last year.

The state government has defended its decision to award construction tenders to Pindan, revealing the company passed all financial due diligence checks just six months ago.

Hundreds of affected businesses will gather next Friday for Pindan's first creditors meeting since the construction giant's collapse, as administrators attempt to keep staff in work.

Pindan's Singaporean owner wrote a letter to the group last year confirming it would support all Pindan companies to remain solvent until at least October 2021.

The state government is in the process of investigating the fallout from the collapse of construction giant Pindan Group after three group companies were placed in administration.