More details to come on York Civil failure

A meeting of creditors later this week is expected to shed more details on the sudden collapse of Adelaide construction company York Civil and its finances.

A creditors' meeting this week is expected to shed more light on the abrupt collapse of South Australian construction company York Civil with the loss of up to 190 jobs.

The company went into voluntary administration last week but administrators have quickly ruled it can't keep trading and there's no likely buyer.

The entitlements of workers will be protected by a federal government guarantee but it remains unclear how much money will be available to unsecured creditors ahead of a meeting on Thursday.

Premier Steven Marshall says York Civil's collapse is sad news for South Australia.

"I think there will be a post-mortem as to exactly what has gone wrong at York Civil," Mr Marshall said.

"There's no doubt that they were working on a number of projects for the state government and the state government was meeting its payment obligations to the company in a prompt way.

"There is no suggestion that the taxpayers or the government, either the previous government or the current government, have contributed to this situation in any way."

York Civil has been involved with the delay-plagued but almost complete North Terrace tram extension and the Torrens to Torrens section of the $800 million upgrade to Adelaide's South Road corridor.

It has also worked on a number of projects in Western Australia, including the Perth Stadium footbridge, and major roadworks at Sydney's new Northern Beaches Hospital as well as upgrades to the Pacific and Princes highways in NSW and Queensland.

Arrangements had already been put in place for the remaining partners in any joint-venture projects to continue the work, which applies to the Torrens to Torrens development, the Adelaide tramline and the Perth Stadium footbridge.


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Source: AAP


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More details to come on York Civil failure | SBS News