abc.net.au/news/nostra-porter-davis-liquidator-sale-agreement/102230380The liquidator for failed builder Porter Davis has reached an agreement to sell part of the business to a Victorian construction firm.Nostra will take over 375 homes and townhouses left in limbo by Porter Davis' collapseNostra Property Group will take over the multiple dwelling arm, which was primarily responsible for townhouse projects., with the majority of those in Victoria and about 200 in Queensland.
Liquidator Grant Thornton said that would allow up to 375 homes to be finished, including 126 townhouses that were designed by Porter Davis and were already underway as well as another 169 developments that were yet to begin construction. "All parties worked tirelessly to achieve a positive outcome in an extremely short period of time which will see a number of jobs preserved, disruption minimised for several existing and future projects and, critically, up to 375 homes built for families who have had to suffer enormous stress and anxiety following the collapse of the PDH Group," liquidator Said Jahani said.
"If that news today bears fruit, that is potentially some positive news for those particular clients of Porter Davis," Ms Allan told ABC Radio Melbourne.Nostra Property Group was founded by Anthony Caruana in Victoria in 2006 and specialises in townhouse and freestanding developments. Earlier this month, the liquidator rejected a bid by Melbourne-based property firm MIG Sons & Co to buy Porter Davis outright, keeping all staff employed and completing all contracted jobs.
I think it's great news but can they really guarantee no additional costs especially how the economy is going how can they guarantee the same quality don't see it happening
Finally something truthful on the ABC's twitter thank you elonmusk I can't wait for you to so an interview with an 'journalist'
GovernmentFundedMedia with no opt-out. It’s their ABC…
Nice new label
Good luck getting subbies to go anywhere near it!
Love to new tick guys 🤣🤣🤣
geoffrey_payne That may not be the best solution. For people in pipeline. New onwner will start with letter of demand for cash 1st up.
Stop government funding, if you need funding start an Onlyfans account😂
Government funded fake news media
When can I expect this story? As I only trust government funded organisations, I eagerly await it.
Government-funded Media 🤪 wee see you!
The damage Dictator Dan has done with his world record lockdown and historic debt to not only the Victorian economy but the Australian economy is out of this world. $9 billion a year thrown away just in interest payments.
great news for many families...