Armstrong Downes

David Ruscoe and Russell Moore from Grant Thornton New Zealand have been appointed liquidators. Two of the company's largest construction projects were ...

“You don’t take it on the chin lightly, but we have vested interests. Sutorius said it was early in the process, but he hoped builders would be back on site within a couple of weeks, and he hoped to bring as many of the subcontractors back as possible. “They are out of pocket, but from our side, we will get in touch with all of them, we’ve spoken to a lot of them already, and give them assurances we will make sure they get paid their invoices,” he said. “We are obviously in quite a tough position at the moment as well, i.e. we have paid money to Armstrong Downes for their invoices last month which we have been told hasn’t been paid to the subcontractors.” “The liquidators have secured the site, meaning no access to the site for the subcontractors.” “These sites have been temporarily closed as it’s in the best interests of all stakeholders to protect both ADC and third-party assets, and to allow time to assess available options for each site going forward,” Ruscoe said.