The director of MI Constructions (WA) Pty Ltd (the Company) has appointed the managing director of Avior Consulting as liquidator of the Company. This follows an assessment of the Company’s financial position and the restructuring alternatives available to the Company.
The liquidator has commenced an analysis of the company’s position and has advised that the Company’s business ceased to trade before his appointment as liquidator. The Company operated a residential construction business in Perth and employed 18 staff prior to its closure.
The Company’s records indicate that it is engaged in over 175 residential building projects in the Perth area, which are at varying stages of completion. Avior Consulting Managing Director Dermott McVeigh said: “We are working very closely with the Company’s director to achieve an outcome that is in the best interest of all creditors. We are also working closely with the Company’s insurer, QBE, to assist the Company’s customers to lodge insurance claims in situations where they have suffered a loss from the Company’s liquidation”.
The liquidator requires more time to make a proper assessment of all building projects under construction by the Company and will liaise directly with customers in relation to the future of each project.
Mr McVeigh said: “I have convened a meeting of the Company’s creditors to take place on Monday, 17 February 2014 and I hope to be in a position to provide creditors with more details of the Company’s position then. We have also commenced an investigation into the Company’s failure which we will discuss with the Company’s creditors in due course.”
Avior Consulting is a boutique financial advisory firm providing quality advice and support to growing mid-market companies. Avior Consulting has a proven track record in financial modelling, restructuring, transaction management, reporting, forecasting and strategy development.
Natasha Di Ciano
P: 1300 202 209