The Slatter Group WA is the latest builder to collapse after appointing EY to liquidate the 20-year-old company, which specialised in the education sector.
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.
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.
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.
Updated: The University of Western Australia says it is working with subbies and will seek a new lead contractor at Forrest Hall, after six Jaxon Group entities entered liquidation today.
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.
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.
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.
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.
Pindan Group's assets could soon be on the market as administrators EY trawl through the remnants of the construction group, with 500 subcontractors expected to be affected.
Sir Ron Brierley-chaired Mercantile Investment Company appears to have been successful in its $21 million bid for Perth-domiciled, Singapore-based shipping business Richfield International.
Struggling iron ore miner Pluton Resources has fallen back into the hands of receivers and managers, less than six months after the board regained control of the company, as part of a new structuring proposal.
