No meeting in sight for Ebert creditors owed $45m
There will be no quick creditors’ meeting for people owed money by failed construction company Ebert Construction. Liquidator David Ruscoe of Grant Thornton was appointed last week, and in his first report said he needed more time to gather information about the company’s position. He expected his initial investigation would take two months. Ebert collapsed in August owing creditors about $45 million, $33.8m of it to unsecured creditors. Ruscoe said Ebert’s shareholders had provided his firm with funding for ‘‘a proper independent investigation . . . to address any concerns around the conduct of the company’’. Employees received $640,000 in preferential entitlements a week ago, the liquidator’s report said. They are still owed $1.28m in unsecured pay or entitlements.