Business
Grocon appoints administrators as Barangaroo stoush takes toll – Sydney Morning Herald
High profile property developer Grocon has called in administrators after declaring its construction business insolvent and blaming Infrastructure NSW’s handling…
Mr Grollo said in a statement it was unfortunate that INSW was forcing its hand to place the construction business into administration.
“While I have spoken before about moving Grocon away from the construction business model to new initiatives such as Build to Rent, I did not want to call in administrators,” Mr Grollo said.
“My desire is to pay the creditors in full. I believe we will ultimately win the case against INSW and when we do so, the creditors will be the first in line to be compensated.”
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