Probuild Voluntary Administation starts a harrowing 2022 for the construction industry in Australia

Insolvency: 25 February 2022

Probuild has entered voluntary administration (VA) with some $5 billion in ongoing building projects around the country. This step was taken when the builder's parent company withdrew financial support, prompting the appointment inclusive of 18 entities associated with Probuild.

This insolvency will have flow-on effects on suppliers and contractors as well as employees.

For more information please see the full article at https://www.linkedin.com/pulse/probuild-end-paolo-tatti/?trackingId=4A9eb8XhSy%2BZRcKbzDmoMQ%3D%3D

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Please note: The information in this article is provided for general information purposes only and does not constitute legal advice. It is not intended to be comprehensive or to apply to any specific circumstances. You should seek independent legal advice before acting on any information contained in this article.