DuncanPowell has substantial experience in the construction and engineering industries having been the appointed insolvency practitioners to entities operating at both the head contractor and sub-contractor levels of each industry.
We were appointed Voluntary Administrators of the Candetti Group. Whilst the Group was predominantly a South Australian based construction concern, it also undertook projects in Queensland. The Group was involved in high profile construction projects including the State Aquatic Centre. At the time of the Administration, the Group had twenty-five live projects, each with associated outstanding bank guarantees that exposed the secured creditor. We continued to trade the operation, ensuring that each project was completed and ongoing rectification works were performed in order to minimise the secured creditor’s exposure and maximised debtor recoveries.
We were appointed Voluntary Administrators of Quarterbern Pty Ltd, which operated civil construction and equipment hire businesses known as “QB Hire”. The Company operations continued under Administration whilst construction contracts in Alice Springs and Arnhemland were completed and a marketing campaign was conducted for the sale of the business.
We were appointed Provisional Liquidator and subsequently Official Liquidator of Pipeline Induction Heat (Australia) Pty Ltd. The Company contracted its services to the mining industry, constructing and refurbishing pipelines principally for oil and gas operations in the Copper Basin. It also specialised in the manufacture of plastic pipe fittings and in the bending of pipeline. Retail sales of these pipe fittings were made to buyers in the mining industry and small quantities were also exported. Upon our appointment we completed work in progress and sold the assets of the company by way of a public auction.
The director appointed us as Voluntary Administratorss to facilitate the orderly winding down of the Group’s operating businesses and to implement a sale of assets. The Companies operated in quarrying, crushing, civil works, earthmoving and the supply of ready-mix concrete in the Broken Hill and surrounding regions. The asset sale program including real estate, plant equipment and extraction licences resulted in the repayment of secured creditors and employee entitlements.
We were appointed Voluntary Administratorss and subsequently appointed as Court appointed Liquidators over the Company. The Company was involved in the fabrication, machining and installation of structural steel as well as operating a crane and equipment hire division. Based in Broken Hill the business continued to trade during the voluntary administration whilst the director pursued restructuring and re-financing opportunities. Subsequently appointed as Court appointed liquidators we organized an orderly wind down of the Company’s operations and a sale of assets resulting in the payment in full of secured finance creditors.
We were appointed Liquidators of Ottoway System Integration, a large engineering firm operating out of the metropolitan Adelaide area. At the time of appointment, the Company had a number of ongoing contracts, including with global mining corporations listed on the Australian Stock Exchange. We were able to successfully negotiate the exit of the Company from all contractual obligations and following a number of successful legal recoveries, realise sufficient funds to enable payment of a dividend to priority creditors of the Company.