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1.Market Observations, 8.Was Sticky

6 June 2017 (AFR) – CMF Projects owes 225 creditors, questions raised on trading

(6 June 2017, AFR, p33, by Matthew Cranston)

‘Creditors for collapsed Brisbane apartment builder CMF Projects have raised concerns about ever recovering money owed to them after company directors said failed attempts to find funding for the company in its final days had pushed it to the brink.’ <snipped…>

‘The builder, which has completed at least a dozen high-profile apartment projects in Brisbane, appointed administrators on May 16 and is the first builder of any real significance to go into administration in a market where new apartment sales have plunged by more than 70 per cent in a year.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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