As widely reported in the media, the Probuild group of companies have on 23 February 2022 appointed voluntary administrators from Deloitte following claims that Probuild’s parent company has withdrawn financial support.
Given Probuild’s position as one of Australia’s largest builders, and reports of $5 billion of unfinished projects around Australia, it is likely that there will be a very large number of creditors who are owed money and face a great deal of uncertainty about whether they will be paid.