Hawkins sale to Downer under scrutiny by liquidator untangling $453M web of related party loans

Fri, 13 Jul 2018

By Paul McBeth July 13 (BusinessDesk) - The liquidators of former Hawkins businesses that were ringfenced when Australia's Downer EDI acquired the New Zealand construction company are trying to unpick $453 million of related party loans, a move that will show if there's any money left for sub-contractors owed almost $44 million. The former owners of Hawkins, the McConnell family, retained 31 entitied that Downer didn't want and subsequently, as a secured creditor, tipped some into receivership. By July 5, 14 were in the hands of liquidato...

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