On 23 March 2018, Ivan Glavas and Matthew Jess of Worrells Solvency and Forensic Accountants were appointed voluntary administrators of Project Group Construction Pty Ltd. The company operates as a residential and commercial builder in Melbourne.
The administration is in its infancy and the administrators and their staff are currently obtaining and reviewing the company’s books and records, to ascertain the company’s financial position. The administrators are also assessing the status of the company’s approximately 20 ongoing projects to determine commerciality of completion.
Creditors will be advised of the outcome of Worrells preliminary investigations at the upcoming meeting of creditors; notices to creditors for the first meeting will be set in the coming week.
If anyone has information in relation to the company’s financial affairs, those parties should contact the Worrells Melbourne office. Creditors are requested to lodge a formal proof of debt via Worrells’ website (www.worrells.net.au).
Worrells appreciates the impact the appointment has on the employees, creditors, and the community and will continue to proactively communicate with all affected parties. The objectives of the voluntary administration regime will assist to bring about the best possible outcome for the company and its creditors.
Worrells has 25 offices nationally and 26 partners, across Qld, NSW, ACT, Vic, SA, and WA. Worrells has been providing solvency management, insolvency administration, and forensic investigation services for 45 years.
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