A dispute between two of Australia’s best-known property companies has boiled over into public after builder Grocon put two subsidiaries into voluntary administration in the middle of a court battle with Dexus over a $28 million lease claim against it by the country’s largest office landlord.
Grocon executive chairman Daniel Grollo on Friday called the decision to put the two units into adminstration regrettable but said he was forced to do it after Dexus – whose attitude he called “unreasonable and disappointing” – escalated its demands for payment even though a court process was continuing.
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