Construction firm to be wound up

Make text smaller Make text larger

  • Paterson Contracting Limited on Harbour Road in Paget (Photo by Mark Tatem)

    Paterson Contracting Limited on Harbour Road in Paget (Photo by Mark Tatem)


Paterson Contracting has shut its doors and is set to be wound up after falling more than $1 million in debt.

The company had struggled due to the slowdown of the construction industry and has already laid off all of its staff.

According to a notice published on Wednesday, a petition to wind up the business was put before the Supreme Court by Bierman’s Concrete Products Ltd on October 31.

The petition is set to be heard by the court on December 7, with other creditors expected to come forward.

Paterson’s lawyer Alan Dunch said there is no intention to fight the order.

“The reality is that Paterson recognised that it had reached the point of being insolvent some weeks ago and as a result of that, it ceased trading,” Mr Dunch said. “There is no possibility of it at all being able to satisfy the outstanding debts.”

Mr Dunch was unable to state exactly how far in debt the company was, but described it as “well in excess of $1 million.”

Ten of Paterson’s 35 staff were let go in January, 2010.

Owner Kevin Petty, former owner of Newstead Belmont Hills, then said that the layoffs were temporary, caused by the sluggish construction industry.

The remaining staff were let go over the course of this year, with Mr Petty citing a lack of work.

Universal Electric filed a writ against the company in April. In September another pair of writs were filed against the company by sheet metal company Keen Ltd and Air Care Ltd.

You must be registered or signed-in to post comment or to vote.

Published Nov 13, 2012 at 8:00 am (Updated Nov 13, 2012 at 12:20 am)

Construction firm to be wound up

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

Take Our Poll

  • Which of the following best describes your opinion on how Senior Civil Servant job positions should be granted?
  • Senior civil servants should be appointed on a temporary contract renewable basis.
  • 74%
  • Senior civil servants should continue to be appointed on a permanent basis
  • 18%
  • Don't Know
  • 8%
  • Total Votes: 2155
  • Poll Archive

Today's Obituaries

View all Obituaries Place an obituary

Facebook Activity