The Supreme Court of Western Australia has approved an amendment to a restructure of embattled construction company Cooper & Oxley Builders that will leave unsecured creditors with between six and 13 cents in the dollar.
Cooper & Oxley Builders has today gone into voluntary administration, but only after taking legal action to try and retrieve a $5 million investment in the Kings Square project in Fremantle.
Singapore-based developer Dradgin Pte disclosed today it had offered financial assistance to Cooper & Oxley Builders, which has suspended work on all its construction sites this week.
SUBIACO-BASED engineering and construction contractor Doric has won a contract to build a new medical research facility in Nedlands, which will have a completed cost of more than $100 million.
