Debts of collapsed Descon and Adcon building groups are above $200m as administrators reveal a new frustration with the crumbling empire’s director Danny Isaac.
Kathleen Skene Follow2 min read June 6, 2024 - 6:00AM
Gold Coast Bulletin
Eight of the group’s failed companies- which operated in three states and the ACT – owe at least another $190m between them, with some administrators yet to report on their debts.
Liquidator Terry Rose of SV Partners said Mr Isaac had offered funding to explore whether the company would be better off in administration than liquidation – but no money had materialised.
Mr Isaac was also yet to provide the location of the company’s materials, plant and equipment, and books and records.
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