Fighting for Subbies Rights
16th April 2018
Menzies Advisory has collected $1,663,391.55 to date and taking into consideration what the first liquidator said re no money here, that is a great result with much more to come and hopefully, a return to creditors.
They have identified a lot more and are working towards realising those funds but it's a time consuming exercise.
This financial result justifies creditors changing the liquidator.
You can read the full report by clicking here.
Update 4th April 2018
Cullen creditors have often asked us if there is progress being made.
The answer is yes, the investigation is going very well and some funds have been identified and collected but there is a lot more to do so we need to be patient.
This job is a large and complicated but unlike most builder liquidations, the liquidator here is working for the creditors.
There is no quick fix here, the investigation is ongoing. There will be a public examination of the directors and other parties in the near future and hopefully, that will shed some light on where this went wrong.
The investigation is ongoing, the Liquidator Michael Caspaney thanks all creditors for their patience.
You can read the latest full report here.
