Balcatta-based electrical, fire and security service provider Global Electrotech has gone into liquidation after creditors appointed DCS Advisory to the failed business, which owes about $1.2 million.
Global Electrotech fell into the hands of WA Insolvency Solutions as administrators in 2013, but gained control several months afterwards with a deed of company arrangement, while the administrator managed the creditors trust.
By late 2015, the company had paid just more than $720,000 of the $1.8 million it had agreed to pay the trust. However, it negotiated a two-year extension to pay the remaining $1.1 million in stages, ending December 31 2017.
The first payment, being $100,000 due by the end of February this year, was paid on time.
But a $2…
Read the full article at: https://www.businessnews.com.au/article/Perth-contractor-into-liquidation
