Mar 20, 2018 Last Updated 11:02 AM, Mar 14, 2018

New Entry From the Editor :

Australian junior Raiden Resources strikes momentous deal with Rio Tinto

Australian junior Raiden Resou…

AusBN - Raiden Resources (ASX:RDN) will enter a joint venture with Rio Tint...

Turnbull confirms Australia’s exemption from US steel and aluminium tariffs

Turnbull confirms Australia’s …

AusBN - Prime Minister Malcolm Turnbull has confirmed that Australia will b...

AGL signs contract with Finnish technology group for 211MW Adelaide power plant

AGL signs contract with Finnis…

AusBN - AGL Energy and Finnish technology group Wärtsilä have sig...

WA construction firm goes under as angry workers retrieve tools from locked site

crane constructionAusBNAusBN - Western Australia-based construction firm Cooper & Oxley has suspended its trading as a financial crisis looms over the major regional commercial building firm.

However, the company’s decision to lock a building site has sparked an angry backlash from its subcontractors, many of whom attempted to retrieve their tools from the property.

Cooper & Oxley has previously worked on several private and government multi-million dollar contracts but was compelled to advise its subcontractors to cease all current work as the company was not in a position to pay them.

After receiving the news, several workers returned to the 500 Hay Street site in Subiaco, a partially built hotel, office space and restaurant precinct, only to find they were locked out and unable to claim their tools and equipment from inside.

In another twist, the project’s owners Singapore-registered firm Dradgin they were unaware that the shutdown would occur and even offered financial assistance to the troubled construction firm.

"All payment terms and conditions of the contract have been met by Dradgin Pte Ltd," said the owner in a statement.

"In fact, Dradgin offered financial assistance to Cooper & Oxley to help Cooper & Oxley meet its obligations, unfortunately this was not accepted.

"Dradgin's priority is working with all parties involved - including subcontractors - so that the project may be completed as soon as possible."


This Month's Issue

v3i2 cover web


rgn web banner

abn web banner

Recent Tweets