Armstrong Downes claims jump to $30.4m

Liquidation costs are mounting. (Image: ADC)

Fri, 13 Jan 2023

The liquidators of Wellington contractor Armstrong Downes Commercial say they have received $30.4 million in claims from 203 creditors.Another eight secured creditors are claiming a further $670,599, according to the latest six-monthly report by Waterstone Insolvency.The Auckland-based liquidator, which took over from prior liquidator Grant Thornton at the request of unhappy creditors on June 22, said it will make a full retention payment to the 126 subcontractors in the amount of $2.89m within the next few months. Retentions, which were h...

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