03 Sep Building and Construction Industry
Voluntary Administration to Official Liquidation
SV Partners were appointed as Voluntary Administrator of the largest remedial earthworks company in Tasmania with approximately 75 employees. The company had a large secured facility including debtor factoring through a financial services company.
SV Partners entered into a licence agreement for management and ongoing trading of the business with a view of to selling the company’s business and assets in order to meet secured creditor claims.
The matter eventually resulted in a court ordered Official Liquidation. SV Partners were able to successfully secure a sale of the business and assets in addition to recovering numerous voidable transactions.