Update from the Receivers of Beechwood HomesDOWNLOAD
Karina Randall (media enquiries only)
Media & Communications
+61 (0) 414 823 712
20 June 2008: The Receivers and Managers of Beechwood Homes, David Lombe and Chris Campbell, have confirmed that they are now in the final stages of the negotiation process with a small number of potential buyers.
“We would like to reassure all interested parties including homeowners, employees, contractors and creditors that the Receivers are confident of a successful sale,” says Mr Campbell.
The Receivers are pleased that the vast majority of homeowners have accepted the advice to be patient until the sale process is finalised. None-the-less, the Receivers recognise that it is a difficult time for all involved. “Homeowners should be reassured by the fact that the Receivers are soon to forward contracts to interested parties with a view to concluding sale of the business,” he says.
“However, as with any closing of a sale process, we are at a delicate stage of negotiations,” says Mr Campbell. “The assets of the business to be sold includes the intellectual property and copyright over plans and designs. It is important that the new owner has the opportunity to build the ‘Beechwood Homes’ for its customer using the Beechwood copyright over the house plans.
“The Receivers would like to highlight that the sale under negotiation is likely to ensure that incomplete homes are completed in accordance with Beechwood designs, and that those with a security deposit and plans are likely to see their house construction process commence.”
Following the appointment of voluntary administrators by the Directors of Beechwood Homes on Tuesday 13 May, David Lombe and Chris Campbell from the Deloitte Corporate Reorganisation Group were appointed by a secured creditor as Receivers and Managers of Beechwood Homes on Wednesday 14 May.
The companies involved are L.E.D. Builders Pty Limited, L.E.D. (North Coast) Pty Limited, L.E.D. (South Coast) Pty Limited (All Receivers and Managers Appointed) (In Administration).
For further information for
clients and creditors:
Please direct to the Receivers at