One of the biggest Queensland building industry collapses in recent years could be the subject of a court probe to uncover the reasons for the firm’s failure.
Glen Norris, The Courier-Mail Subscriber only|February 4, 2020 1:31pm
LIQUIDATORS handling the $15 million collapse of Sommer and Staff Constructions have flagged a public examination into the events surrounding the firm’s failure.
Now Hancock, armed with a funding proposal from the Federal Attorney-General’s Department, has told creditors a public examination held in the Federal Court would determine the prospects of recoveries available against the director Dan Burley and former directors of the company.
Hancock told creditors in a report that “while recoveries are not guaranteed, public examinations would be required to investigate the nature of the specific transactions conducted by the director and former directors.”