GrowthOps enters administration, 21 entities liquidated

Liquidation

GrowthOps, the parent company of agencies including AJF Partnership, Khemistry, and APD, has entered administration and is undergoing liquidation for most of its entities. Administrators, Katherine Sozou and Damien Pasfield of McGrathNicol, were appointed on 31 March to oversee the voluntary administration process of three business units – GrowthOps Limited, Asia-Pacific Digital (APD) and a…

Cubitt’s in liquidation but projects will be completed

Liquidation

The Cubitt’s Display Centre in Fyshwick. Eleven projects were affected in the ACT. Photo: Cubitt’s. A 30-year-old, family-owned building company has gone into liquidation, but clients will have their projects completed after the sale of parts of the business. Cubitt’s Granny Flats and Home Extensions was formally placed into liquidation at a creditors meeting last…

SC upholds NCLT order to initiate insolvency against DHFL’s Wadhawan promoters

Liquidation

The Supreme Court on Tuesday upheld the National Company Law Tribunal’s decision to initiate insolvency proceedings against Dewan Housing Finance Corp’s former promoters Dheeraj Wadhawan and Kapil Wadhawan, who stood as personal guarantors for loan facilities provided to the debt-laden firm. A Bench led by Chief Justice Sanjiv Khanna dismissed Wadhwans’ appeal against the National…

Veteran builder Stokes Wheeler collapses owing $20m

Liquidation

A Queensland building company has gone into liquidation owing about $20 million to creditors, many of which are unlikely to recover the full extent of their losses. Veteran construction company Stokes Wheeler had four projects under construction on the Gold Coast whose contracts have now been cancelled. The largest project, a block of 40 apartments…