Article 5WX67 Probuild collapse: administrators investigate $50m transferred to civil construction division

Probuild collapse: administrators investigate $50m transferred to civil construction division

by
Ben Butler
from World news | The Guardian on (#5WX67)

Documents show Probuild's WBHO Infrastructure borrowed $48.7m from other parts of the group last year as it struggled to survive

Administrators of the collapsed Probuild building empire say they will investigate a transaction last year in which almost $50m was transferred from other parts of the business to the group's struggling civil construction division.

Company documents show Probuild's civil construction company, WBHO Infrastructure, borrowed $48.7m from other parts of the group last year as it struggled to survive massive losses caused by one of its key projects, the western roads upgrade in Melbourne.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://www.theguardian.com/world/rss
Feed Title World news | The Guardian
Feed Link https://www.theguardian.com/world
Feed Copyright Guardian News and Media Limited or its affiliated companies. All rights reserved. 2026
Reply 0 comments