Grocon on brink of administration

Original article by Ben Wilmot
The Australian – Page: 13 & 14 : 23-Nov-20

Troubled construction company Grocon was said to be in talks over the weekend of 21-22 November about the appointment of administrators, although no move has yet been made. Grocon has been involved in a number of disputes in recent times, including with Infrastructure New South Wales, against which Grocon has launched a $270 million legal action. Grocon head Daniel Grollo recently said that its creditors would be "first in line" to be paid if it wins its action against Infrastructure NSW. Grocon’s latest problems relate to a project in Melbourne, where it is said that sub-contractors are owed around $8 million. Grocon is building a tower for Impact Investment under a fixed-price contract, and claims that it has not been paid by Impact since May.

CORPORATES
GROCON PTY LTD, INFRASTRUCTURE NEW SOUTH WALES, IMPACT INVESTMENT GROUP PTY LTD

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