It’s unclear when creditors owed millions of dollars following the collapse of builder Porter Davis will see their money or how much they’ll get.
The company fell over in late March with about $147 million (US$97.67 million) in debt, leaving some 1700 homes in limbo in Victoria and Queensland.
On June 28, around 20 people representing hundreds of creditors met at the Sofitel in Melbourne to discuss the next steps.
Several motions were passed related to paying liquidators Grant Thornton, contracts and forming inspection committees on three companies.
The focus remains on clawing back money, but it’s still too early to say how much money would be recovered and put into a pool for creditors, according to Grant Thornton partner Matt Byrnes….