On 8 February 2026, Graeme Beattie and Aaron Lucan of Worrells were appointed administrators of Novati Constructions Pty Ltd (“Novati”).
Founded by Peter Novati in 1971, the Novati Group is a trusted brand in the Australian construction industry. Throughout its decorated history, Novati has delivered dozens of projects throughout Australia in Accommodation, Aged Care, Commercial, Residential and Industrial sectors.
Novati ceased operations upon the administrator’s appointment.
Mr Beattie said, “The administration has only just commenced, and we are working diligently to establish Novati’s financial position. This includes identifying assets available for realisation and quantifying creditor claims, with assistance from the directors and senior management. We are mindful of the impact this appointment will have on all stakeholders, particularly its clients, subcontractors and employees.”
“In preliminary discussions with the directors, they have indicated their desire to propose a Deed of Company Arrangement. In accordance with our fiduciary and statutory duties, we will consider whether that Deed, if proposed, is in the interests of creditors. Creditors will be informed of any material updates at the forthcoming meeting of creditors and in our next report to creditors”
Luisa, Alberto and Marco Novati say:
“We remain proud of Novati’s 40 years of history and reputation in the industry during which time Novati has successfully delivered dozens of major commercial and residential projects. Unfortunately, ongoing market pressures have made Novati’s continued operations unsustainable, due to market uncertainty, increase in cost of materials and labour and interest rate rises. Over the past several months, we have canvassed solutions for the current financial position of Novati, however, have made the difficult decision to appoint Graeme Beattie and Aaron Lucan as administrators. We will work closely with the administrators over the coming weeks to ensure the best outcome is achieved for stakeholders”
Creditors, stakeholders and employees may submit their claims via our file information portal at www.worrells.net.au and can direct all enquiries to westernsydney@worrells.net.au
Worrells advises it will continue to give updates as they become available.
Worrells is the leading brand of insolvency and turnaround teams. With local teams in NSW/ACT, Qld, Vic, and WA, Worrells also has the support of a national brand. Its teams have helped people and business recover from difficult financial situations and assisted the creditors attached for over 50 years.
–ENDS–
Graeme Beattie
Principal, Western Sydney
graeme.beattie@worrells.net.au