Carmichael Builders debt revealed
UNSECURED creditors of Carmichael Builders, are owed "in excess" of $10.8 million.
Hall Chadwick Chartered Accountants administrators Richard Albarrann and David Ingram said the figure came to light following the first meeting of creditors in Brisbane this morning.
"Please note that this figure maybe subject to change pending receipt of further information," the administrators wrote.
Carmichael Builders were the company responsible for the now stalled construction of the nearly complete Friendly Society Private Hospital Medical Suites.
The administrators will now conduct further investigations into the affairs of the Carmichael Builders including the reasons for the failure of the Company, insolvent trading and other voidable transactions.