Receivers reached agreement with 126 of 130 subcontractors on how to treat claims. Photo: NZMEReceivers for Ebert Construction have said that subcontractors are likely to be left out of pocket after the collapse of the business. Receivers have dished out another $770,000 to subcontractors, bringing total distributions to them to $2.31 million since the firm's collapse last October. The distribution of funds following Ebert's collapse is being closely watched in the construction industry as the first major test of the subcontractors' retention regime. According to their July 15 report, the receivers had reached agreement with 126 of 130 subcontractors on how to treat their claims.

Source: Otago Daily Times July 22, 2019 21:00 UTC