A Federal Court judge could place Diploma Group into provisional liquidation as early as Monday following the termination of a property development deal.
The administrators from accounting firm Grant Thornton have told creditors of the collapsed builder-developer claiming about $60 million that they may not get a chance to vote on the companys future
Justice Neil McKerracher last week appointed provisional liquidators to 20 Diploma companies, but put the move on hold until Thursday to await the outcome of the deal over the Chemlabs commercial development in East Perth.
Developer Emporium subsequently rejected a proposal from Diploma to get back into the Chemlabs development under an option agreement containing conditions Diploma first neede…
Read the full article at: https://thewest.com.au/business/construction/liquidation-looms-for-collapsed-diploma-ng-b88481473z