Creditors move over Macbuilt
By EVAN SCHWARTEN ? AFTER weeks of speculation the creditors of Macbuilt Steel Homes have moved to place the business into liquidation.
A group of 35 creditors met with administrator Geoff Macdonald from Hall and Chadwick Chartered Accountants at The Mercure Inn Leichhardt, Rock-hampton, on Thursday to decide the fate of the company.
They voted to liquidate the company which was placed into voluntary administration two weeks ago. "It was really the only option available to creditors,'' Hall and Chadwick spokesman Blair Pleash said.
The firm would now prepare a report on the company for the Australian Securities and Investments Commission before liquidating the company's assets.
He estimated there were about 90 creditors who were owed a total of $600,000 by the company.
MSH dealt with the supply of materials for steel-framed kit homes and had branches in Rock-hampton and Emerald.
Mr Pleash said MSH's sister company Macbuilt Constructions had not gone into administration.
However, he admitted the company had its building licence suspended last week.
The Morning Bulletin last week reported that Macbuilt Constructions creditors would have their investments protected by insur-ance under State Government legislation if that company also went into administration.
However, MSH creditors did not have the same protection because the company was merely a supplier and did not have a building licence.