Ebert Construction Limited

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Updates:

29 October 2019

29 November 2019

To whom it may concern,

As you are aware, on 31 July 2018 Ebert Construction Limited ("Ebert") was placed into receivership and Lara Bennett, John Fisk and Richard Longman were appointed as receivers. Subsequently, on 12 November 2018 we were also appointed receivers of the Ebert Construction Retentions Fund ("the Fund") by way of Court Order ("the Court Order"). 

To date, distributions of 90 cents in the dollar have been made in respect of agreed subcontractor entitlements, with the balance of funds being held pending the outcome of a further application to the court to finalise matters.

In accordance with the Court Order, please find attached the Affidavit of the receiver and the Memorandum of counsel both in support of the Receivers' application for final directions as to receivership of the Retentions Fund. In accordance with the Court Order, service of these documents has been made today via email to all subcontractors who are entitled to make a claim to the Fund.

The directions sought in the application are summarised as follows:

a. that interest accruing on the Fund be applied to the Receivers’ fees, costs and expenses;

b. that the Receivers can make remedial deductions of approximately $30,000 relating to defective work carried out by six specified subcontractors;

c. directions as to how entitlements in respect of subcontractors who cannot be located for payment or who have waived their claims to the Fund be managed; and

d. Court approval of the Receivers’ fees, costs and expenses.

If the directions sought are granted, we expect to make a further distribution to subcontractors of approximately 6 cents in the dollar on claims. This would take the overall recovery on valid claims to the Fund to approximately 96 cents in the dollar.  

Specific subcontractors to which the orders at (b) and (c) above relate are identified to the Court but are anonymised in the documents attached. The receivers will be in contact with you directly if you are one of the subcontractors to which these orders relate.  

The Court has directed that any subcontractor who wishes to file a response to these documents can do so by filing a memorandum with the Court and serving it on us within 14 days of today.

Should you have any questions in relation to this matter or the attached documents please contact the receivers via email at pwcnz.restructuring@nz.pwc.com.  

Kind regards,

For the Receivers - Ebert Construction Retentions Fund (In Receivership) 

9 October 2019
22 July 2019
1 April 2019
29 January 2019
10 December 2018
13 November 2018
7 November 2018
2 November 2018
1 November 2018
29 October 2018

In our summary of the Receivers’ application to the Court, we advised that there were some procedural orders we had asked the Court to grant urgently, in order to progress the Application.  The orders sought have now been granted (save for a minor amendment to the timetable, explained below).  Those orders are summarised as follows:

  1. The Court granted leave for the application to proceed as an originating application.  This is a procedural matter, which will enable the Application to be determined promptly and efficiently.
  2. The Court granted the orders we sought as to service of the Application on affected subcontractors and principals.  This order confirms that:
    • the Application was served on affected subcontractors and principals for whom we had an email address when we upload the redacted Application and accompanying documents to our webpage dedicated to the Ebert receivership,www.pwc.co.nz/ebert (Ebert Webpage) and emailed affected subcontractors and principals advising of the Application and that they could view the Application on the Ebert Webpage; and
    • that any person who received a copy of the redacted Application and considered they were prejudiced by the redactions is granted leave to apply to the Court for orders that an unredacted copy of the Application be served on them.
  3. The Court granted the timetabling orders sought, save for two minor changes.  The timetabling directions ordered are as follows:
    • any application by a Subcontractor, Principal or other interested party for joinder to the Application be filed by 1 November 2018.
    • the Receivers file written submissions by 2 November 2018 and serve them by uploading them to the Ebert Webpage and emailing affected Subcontractors and Principals to advise when they have been uploaded.
    • any submissions by any person joined to these proceedings be filed and served by 6 November 2018;
    • the matter be set down for hearing on 8 November 2018;
  4. Leave is granted for any party or intended party to come back to the Court by memorandum seeking further directions.

26 October 2018

24 October 2018
1 October 2018
10 August 2018

1 August 2018

 

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