Debts of collapsed construction group PBS Building have climbed sharply, again, as administrators are granted a special court exemption. How much PBS owes:
Kathleen Skene Follow 5 min read April 6, 2023 - 10:03AM Gold Coast Bulletin
Debts of collapsed construction giant PBS have soared again as creditors of the national group continue to come forward with claims.
Adminstrators have lifted their estimate of what is owed by the five failed PBS companies to more than $60m after earlier saying it could be around $40m.
Initial expectations, based on information provided by the directors, estimated debts of $25m.
The eye-watering estimate comes as the Federal Court granted administrators Jonathon Colbran, Richard Stone and Mitchell Herrett of RSM Australia Partners until June 30 to complete their investigations.
SubbiesUnited comment; It will be a lot more than 60 million too. They always grossly underestimate to give themselves time to fly under the radar in the hope that someone else will fall over in the meantime and take away the attention such as Porter Davis Homes.
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