News Articles for Vince Smith

Pindan pays out Bankwest

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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.

Adco takes on Forrest Hall

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Sydney-based Adco Constructions has been picked to continue development of the Forrest Hall project, weeks after Jaxon companies entered liquidation.

Pindan insolvent trading claim flagged

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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.

Jaxon businesses go under

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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.

EY to probe whether Pindan traded while insolvent

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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.

Creditors brace for Pindan meeting

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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 concerns identified last year

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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 assets to hit market

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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.

Pluton back into receivership

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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.

Liquidator for Oceanic entities

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EY partner Vince Smith has been appointed liquidator of six funds management companies associated with the late David Jones, following a successful court application by the Australian Securities and Investments Commission.

Searching for solutions as big squeeze flows through - SPECIAL REPORT

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Cost cutting can only take a business so far, and with tough times set to continue for mining services contractors, innovation and diversification have a big role to play. Click through to see more on our Mining Services feature.

Mining services companies hit hard: EY

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Accounting firm EY says debt levels and an ongoing focus on costs is placing more pressure mining services companies in Western Australia.

Slim pickings in insolvency

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NEXT year may be the year of the insolvency practitioner but the sector was certainly gearing up for business in 2008 as the older hands of the sector recognised the signs of a stumbling bull market.