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Grocon administrators advise against liquidation, large creditors to get 3c in the dollar under proposed plan – NEWS.com.au
Grocon administrators advise against liquidation, large creditors to get 3c in the dollar under proposed plan
Grocons administrators have advised against winding up the collapsed construction giant after revealing the complex group has been insolvent since February 2019, deeming a deed of company arrangement in the best interests of creditors.Grocon has placed 88 subsidiaries – many of them dormant – in the hands of KordaMentha, blaming its plight on the Central Barangaroo project in Sydney, dominated by Crown Resorts’ new casino.
Grocon alleges rival Lendlease and Crown Resorts reached a secret deal with…
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