Macalister creditors still left in limbo

UNSECURED creditors remain in limbo as liquidators SV Partners continue investigations into the fallen Macalister Constructions.

While the National Australia Bank and unsecured creditors await outcomes of investigations to determine just how much they will see of the upwards of $18million owing, director Cal Board may still be trading under a different business name, according to sources.

Sources have told the Gippsland Times they believe Mr Board has registered company name Maccon Pty Ltd with the Australian Securities and Investment Commision.

A search on the ASIC website shows the business name Maccon Pty Ltd, listing its base as East Melbourne, registered on February 12.

The same company name had initially been registered with ASIC in May 1999, before becoming de-registered in 2006.

A committee of five creditors was set-up following a meeting in Traralgon on February 18, with Melbourne firm SV Partners fully endorsed as administrators.

Laser Plumbing Sale manager Daniel Smolenaars said creditors were now awaiting the outcome of the liquidators investigation.

“We are in a bit of a holding pattern,” he said.

“We have been giving SV partners some details, and have been doing some research for them.”

´╗┐For more read Friday’s Gippsland Times.