Business
Pindan creditors still in the dark over chance of recouping payments from collapsed company – ABC News
It is too early to know whether Pindan creditors will get anything out of the company that collapsed owing $80 million, according to its administrators.
It is too early to know whether Pindan creditors will get anything out of the collapsed company, according to its administrators.
Key points:
- Pindan collapsed owing creditors about $80 million
- Administrators say there was little money in Pindan’s accounts
- Sub-contractors fear they will receive little or no money
All of Pindan’s construction operations have ceased and more than half the staff have been let go following the company’s collapse last week.
EY lead administrator Sam Freeman said creditors…
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