News Articles for Himanshu Gautam

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.

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

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

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.