A building company has collapsed as liquidators investigate the transferral of hundreds of thousands of dollars of company funds to two employees.
Last week, Alurt Construction Services, based on the NSW mid-north coast near Coffs Harbour, plunged into liquidation.
The companys initial estimated debt of around $100,000 has exploded to more than $2 million, although some amounts are disputed, according to the appointed liquidator, Scott Newton of insolvency firm Shaw Gidley.
He said that Alurt had failed because the relationship between its director and senior management had fallen apart and led to a complete breakdown in recent months.
Indeed, the working relationship between Alurts sole director, Jacob Robin, and its construction manager …
Read the full article at: https://www.news.com.au/finance/work/at-work/construction-company-collapses-owing-more-than-2m-after-bitter-feud-between-director-and-staff/news-story/ad2383cbf38b533b988daa325d12fc27