Sacked Yanchep surf club builder in more strife

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The Australian Securities and Investments Commission has sought a federal Court order to wind up the former builder of the Yanchep Surf Club. Picture: Anita McInnes

THE sacked builder of the Yanchep Surf Club is in more trouble with the corporate watchdog applying for the company to be liquidated.

The Australian Securities and Investments Commission has sought to liquidate Diploma Group after the company went into receivership last year.

The commercial construction and property development company focused on commercial, retail and high density retail projects in the metropolitan area.

One of Diploma Group’s wholly-owned subsidiaries – DGX Construction – had its contracted terminated with the City of Wanneroo on Thursday, September 29 last year.

At the time City of Wanneroo assets director Harminder Singh said the city had ended its contract as the contractor did not have a reasonable excuse for being behind on construction of the new surf club.

The Australian Securities and Investments Commission said on 21 December 21 last year the secured lenders of Diploma, DCWA and DGX (the Companies) appointed Martin Jones and Andrew Smith of Ferrier Hodgson as receivers and managers of the Companies.

“Following this, on 22 December, the board of directors of Diploma appointed Matthew Donnelly, Andrew Hewitt and David Hodgson of Grant Thornton as voluntary administrators of the Companies,’’ ASIC said.

The receivers and managers then took control of the operations of the companies as well as control of the assets, undertakings and management of the companies.

“The receivers and managers and voluntary administrators are required to report to ASIC possible offences by people involved with the Companies.

“We will assess reports received to consider our own investigations and action, if any.’’

Yanchep Surf Club builder sacked