The liquidation of council-owned roading construction company Infracon has ended, with the millions of dollars of debts the business left on its collapse all paid.
Infracon was placed into liquidation in August 2014 by its two owners, Tararua and Hawke’s Bay district councils, then quickly purchased by Manawatu roading firm Higgins – which has since been sold to Australian company Fletcher Building – for $7 million.
There were 220 staff made redundant in the liquidation of Infracon, with Tararua mayor Roly Ellis previously telling Stuff the majority of them either retired or found other employment.
Liquidator Tony Pattison of PricewaterhouseCoopers released his final report into the Infrac…
Read the full article at: http://www.stuff.co.nz/business/82657589/infracon-liquidation-ends-with-all-debts-paid