Home builder Mahercorp, which entered administration in April last year owing $75 million and emerged from it in June, has halted agreed repayments to some creditors in a move that blows the lid on unauthorised side deals that may be used to get support for the restructure of an insolvent company.
Melbourne-based Mahercorp, which sells under the 8 Homes and Urbanedge Homes brands, put 730 home builds on hold when it went into voluntary administration, citing the rising cost of materials and labour.
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