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|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").
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.
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:
26 October 2018
|24 October 2018|
|1 October 2018|
|10 August 2018|
1 August 2018