Pindan collapses, leaving subcontractors $80 million out of pocket
May 20, 2021 Hundreds of suppliers and subcontractors of the Western Australian construction company Pindan could be left out of pocket by up to $80 million, after the company collapsed into external administration yesterday. Samuel Freeman of Ernst and Young was appointed as liquidator on Wednesday following unsuccessful efforts by Pindan’s directors to bring in new investors. There are about 1,400 creditors in total who are owed a combined $80 million, an Ernst and Young spokesperson confirmed. Of those creditors, about 500 are subcontractors and 400 are trades suppliers. Pindan is a lar...
Source: smartcompany.com.au