Flow Systems that gave Sydney a host of innovative and sustainable water and energy solutions is in voluntary administration.
Christopher Hill andPhilCarter of PwC Australia were appointed joint administrators of Flow Systems Pty Ltd and related entities on 20 December 2018 after a sale process initiated by majority shareholder Brookfield failed to find new owners.
A media statement from PwC said that the administrators have secured funding to continue tradingon a business as usual basiswhilst an accelerated sales campaign is undertaken. This means that creditors who have outstanding invoices as of 20 December 2018 will have an unsecured claim in the Voluntary Administration. Business as usual refers to payment for t…
Read the full article at: https://www.thefifthestate.com.au/business/investment-deals/flow-systems-in-voluntary-administration/