New setback for Walton creditors
THE collapse of Tantallon Constructions has further cruelled attempts by sub-contractors owed money by Walton Construction to access Tantallon's financial files.
Tantallon (Peloton) was set up in the months before Walton's collapse to take over profitable Walton contracts in Queensland.
In asset sale agreement transfers approved by Walton liquidator Lawler Draper Dillon, Tantallon and Lewton Asset Services last September received Walton equipment and financial records as well as the transfer of the contracts.
Sub Contractors Alliance spokesman Les Williams fears a lack of access to Walton project data may hinder Queensland subcontractors owed more than $30 million to use the state's Sub Contractors Charges Act to recover the money.
Lawler Draper Dillon business recovery and insolvency manager George Reilly has written to Mr Williams saying that shortly after the April 8 appointment of an administrator to Tantallon, building industry financial systems provider Jobpac suspended access to that company's files.
Tantallon owes Jobpac $50,000 for services.
Mr Williams said it would now seem clear that the liquidator had no inclination to supply the information to creditors.
He wants it as a sign of good faith to allow creditors to appoint a representative of their choice, at the liquidator's expense, to access and collate the files.