Ebert Construction's tradies, subbies won't claw back much of $33.8M owed

Mon, 01 Oct 2018

By Paul McBeth Oct. 1 (BusinessDesk) - Ebert Construction's receivers expect most of the $33.8 million owed to tradespeople and subcontractors won't be repaid. PwC's Lara Bennett, John Fisk and Richard Longman said there isn't likely to be any surplus for unsecured creditors from the administration process, the first significant insolvency using a new retentions regime intended to improve the likelihood of payment for sub-contractors. However, Ebert had banked only $3.7 million of sub-contractor retentions, which will need to be divi...

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