Metro Builders liquidator to visit Rocky chasing $1.7m debt
THE liquidator of troubled Metro Builders will head to Rockhampton to inspect the company's developments and recover company assets.
The future of the business is now in the hands of national insolvency firm Jirsch Sutherland.
The administrators were appointed earlier this week after Metro Builders closed on June 8, leaving debts of $1.7 million and at least 24 homes unfinished.
Jirsch Sutherland partner Chris Baskerville said the company would soon head to the Rockhampton region to inspect Metro Builders' developments - which were at various stages of construction - and to recover company assets.
"The company has an interest in three properties, including two display homes which we have an equitable share in as liquidators, and our lawyers have already put caveats on those properties to protect the interest of the company,” Mr Baskerville said.
"We are aware of a number of employees who have been terminated as a result of the liquidation and we are calculating their outstanding employee entitlements.
"In addition to amounts owed to employees, company records indicate that unsecured trade creditors are owed approximately $1.7 million.
"We expect that number to increase as creditors finalise their claims.”
Jirsch Sutherland has begun its investigations into the financial state of the company but are still awaiting access to accounting books and records.
"We are still gathering information to determine the exact asset and liability position of the company,” he said.
Jirsch Sutherland's first report to creditors will be issued within the next week.
"Creditors and interested parties should make contact with the Jirsch Sutherland Brisbane office to register their claim,” Mr Baskerville said.