World news – AU – The Australian real estate giant was founded in 1954 on the brink of collapse

0

. .

MELBOURNE, Victoria, Australia – One of the largest builders in Australia, Grocon, is technically pinned down with its 52 subsidiaries in the process of getting their assigned administrators.

The family business was run by Daniel Grollo, 50, founded by his grandfather Luigi Grollo sixty-six years ago, in 1954..

Grocon was responsible for the construction of many prominent buildings in Australia, particularly in her home city of Melbourne, but also in Victoria in general, and in New South Wales, South Australia and Queensland. Recently completed projects include the Victorian Comprehensive Cancer Center in Melbourne, the Liberty Place / ANZ Tower and 5 Martin Place in Sydney, 55 Elizabeth Street and 480 Queen Street in Brisbane, and the Parklands project on the Gold Coast that houses athletes in the Commonwealth of 2018. Toys. The construction company has won countless industry awards since its inception. ,

Media reports indicate that the company has knocked it down due to a legal dispute over a major development project at Barangaroo in Sydney, the home of the new Crown Casino, majority owned by James Packer.

Last month, when presenting its accounts for the year that Grocon was forced to disclose, it was unable to guarantee its ability to meet its debts as they fall due..

Many subcontractors’ salaries are not paid, and so are salaries. Legal bills have escalated, including a warranty order against costs against the group due to Barangaroo’s legal pillar, but the largest creditor is the Australian Tax Office..

Surprisingly, the debt size is not large, given the size of the group. Creditors are believed to owe $ 60 million. Daniel Grollo told reporters that legal action against infrastructure in New South Wales over Barangaro could amount to between $ 60 million and $ 190 million, which in even the most pessimistic assessments is enough to pay creditors in full.. .

Melbourne, Victoria, Australia – Grocon, one of Australia’s largest construction companies, is technically insolvent with 52 subsidiaries in the process of hiring managers.

The family business was run by Daniel Grollo, 50, founded by his grandfather Luigi Grollo sixty-six years ago, in 1954..

Grocon was responsible for the construction of many prominent buildings in Australia, particularly in her home city of Melbourne, but also in Victoria in general, and in New South Wales, South Australia and Queensland. Recently completed projects include the Victorian Comprehensive Cancer Center in Melbourne, the Liberty Place / ANZ Tower and 5 Martin Place in Sydney, 55 Elizabeth Street and 480 Queen Street in Brisbane, and the Parklands project on the Gold Coast that houses athletes in the Commonwealth of 2018. Toys. The construction company has won countless industry awards since its inception. ,

Media reports indicate that the company has knocked it down due to a legal dispute over a major development project at Barangaroo in Sydney, the home of the new Crown Casino, majority owned by James Packer.

Last month, when presenting its accounts for the year that Grocon was forced to disclose, it was unable to guarantee its ability to meet its debts as they fall due..

Many subcontractors’ salaries are not paid, and so are salaries. Legal bills have escalated, including a warranty order against costs against the group due to Barangaroo’s legal pillar, but the largest creditor is the Australian Tax Office..

Surprisingly, the debt size is not large, given the size of the group. Creditors are believed to owe $ 60 million. Daniel Grollo told reporters that legal action against infrastructure in New South Wales over Barangaro could amount to between $ 60 million and $ 190 million, which in even the most pessimistic assessments is enough to pay creditors in full.. .

Grocon, Daniel Grollo, Construction, Administration, Infrastructure NSW, Australia, Government of New South Wales

World News – AU – Giant Australian real estate company founded in 1954 on the brink of collapse

Ref: https://www.bignewsnetwork.com

Donnez votre avis et abonnez-vous pour plus d’infos

Vidéo du jour: