A building company which went into administration last week appears to owe more than $12 million to creditors.
News.com.au previously reported that Victorian construction company Langdon Building had appointed external administrators and had halted all construction work for six weeks but emphasised the business had not collapsed.
But now more than 100 homeowners hoping to see their dreams come true are growing increasingly skittish as it appears less and less likely their builder can trade its way out of disaster.
At an administration meeting held on Thursday, creditors learned the companys staggering debt.
As news.com.au understands it, according to people who attended the meeting, $5.1 million is owed to unsecured creditors.
Of that, i…
Read the full article at: https://www.news.com.au/finance/business/other-industries/langdon-building-goes-into-administration-impacting-149-homes-and-appears-to-owe-more-than-12m-to-creditors/news-story/390ae053203414093d3b865e81579cea