THE liquidator of a failed Rockhampton building company has released its report – and it’s not good news for the company’s 138 unsecured creditors.
Metro Builders ceased trading on June 9, more than six months after becoming insolvent, owing more than $2.4million.
On Tuesday, director and sole shareholder Glen Finning declared personal bankruptcy.
Liquidator Christopher Baskerville from Jirsch Sutherland Insolvency Solutions said data analysis showed cash-flow was “ok” until November 30, 2017 – the date of insolvency – but the company never recovered from then.
He also confirmed that Mr Finning’s wife Brenda had owned a house bought by the company in 2015 for $2.5million, but there was nothing suspicious abou…
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