Pindan administration is an ‘enormous task’
Hundreds of contractors and staff at one of the state’s biggest property development and construction companies may not get their money back after construction group, Pindan, has gone into administration.
The company currently has 68 projects on the go, including several major State Government contracts.
The Labor party promised legislation to protect tradies from such collapses prior to the last election, but it failed to pass parliament.
The State Government has promised laws that would safeguard sub-contractors will be a matter of priority.
Director of HHG Legal Group, Murray Thornhill, says there are many legal ramifications to take into account.
“The first thing is to work out who is owed what, who the creditors are, and then what cash is available – where is their access to funding?” he said.
Mr Thornhill says customers who have bought apartments off the plan will need to seek advice.
“It really depends on their contracts and where the project is at. Step one is to see what is there and what does it actually look like as it’s a very intricate set of steps,” he told Oliver Peterson on Perth LIVE.
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