Mid-tier liquidators appointed as property case progresses

Mid-tier liquidators appointed as property case progresses

Appointed

Two mid-tier partners have been appointed as liquidators to Diploma Group Limited and its subsidiaries by the Federal Court of Australia, after being made provisional liquidators in May.

Yesterday, Grant Thornton partners David Hodgson and Andrew Hewitt were appointed as liquidators to ASX-listed commercial construction and property development company Diploma Group Limited and its 19 subsidiaries.

Justice McKerracher of the Federal Court of Australia made the appointment following an application from ASIC to protect the interests of shareholders, investors and creditors.

In May ASIC applied for Mr Hodgson and Mr Hewitt to be appointed as provisional liquidators, which the Federal Court granted shortly after on 22 May.

Mr Hodgson and Mr Hewitt have separately applied to the court to be re-appointed as voluntary administrators of Diploma Group Limited pursuant to a deed of company arrangement proposed by a company related to the Di Latte family.

The application is listed for hearing on 13 September 2017.

ASIC's investigation into the Diploma Group is ongoing.

Mid-tier liquidators appointed as property case progresses
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