Project Coordination MD Gavin Murphy said they had called in administrators after failing to find the capital needed to keep going despite ongoing projects and a solid pipeline of work. Photo: Supplied.
Administrators have identified two more ACT Project Coordination projects affected by the failure of the 50-year-old Canberra building company.
An update from the first creditors meeting on Tuesday (2 April) also said administrators RSM Australia had received about 200 formal creditor claims valued at more than $25 million.
Partner Jonathon Colbran said the number of creditors and value of claims would continue to evolve over the course of the administration.
He said that as well as the original 14 projects found – 10 in the ACT and…