Sal Algeri, Jason Tracy, Matt Donnelly and David Orr were appointed Joint and Several Voluntary Administrators (Administrators) of the Group on 23 February 2022, pursuant to Section 436A of the Corporations Act 2001.
The Administrators are undertaking an urgent financial assessment of the Group including an analysis of each project currently under construction and commence a sale and/or recapitalisation process. The Administrators’ intention is to cause as little disruption to the business as possible, whilst still meeting their obligations under the law.
Whilst we assume responsibility for the business, the Group’s management team will continue to assist us with the operations of the business during the administration period.