Parramatta. Firm back in business

The Parramatta-based, family-owned, Wincrest Homes, has resumed construction after five weeks in voluntary liquidation, owning an estimated $12 million. Creditors approved a deed of company arrangement last month allowing more than 200 tradespeople and contractors to start work again. Wincrest CEO, Michael Caruana, said construction was underway on 103 homes while 90 were in pre-construction phase. The company was established in 1986.

Parramatta. EOI called for Wincrest Homes

Bruce Gleeson, of Bruce Jones Partners Insolvency, the administrator, of the Parramatta-based, family-owned, Wincrest Homes, has called for expressions of interest in the company. There are currently approximately 120 home building projects at various stages of construction, as well as various intellectual property and copyright designs. The projects are primarily in Sydney, Newcastle, Central Coast and Southern Highlands. EOI close on February 20.

Parramatta. Wincrest creditors to meet

Creditors of Parramatta-based Wincrest Homes, which has gone into voluntary liquidation owning an estimated $12 million, will meet at the Crowne Plaza hotel, in Parramatta, at 9.15am, on Tuesday, February 10. Creditors will discuss a proposal to allow current projects to continue. Construction has halted on more than 100 homes

Parramatta. Wincrest Homes in administration

Wincrest Homes, a Parramatta-based family company has gone into voluntary liquidation, with about 100 homes under construction and owing $12 million. Bruce Gleeson, of Jones Partners, who has been appointed administrator, said Wincrest confirmed owing $6 million to its secured creditor, St George Bank, $4 million to tradespeople and contractors and a further $2 million to related parties, The Sydney Morning Herald reported. In addition to homes under construction, Wincrest is believed to have taken deposits from a further 20 customers.