Realtek has filed a motion in the Federal Court to recover a $2.5 million loan from a Perth hearing tech company once celebrated by Time Magazine, but now in administration.
A Perth hearing tech company once touted by Time Magazine has fallen into administration after failing to nail down a deal with a major foreign semiconductor company.
When administrators from Deloitte walked into the West Perth offices of WBHO Infrastructure in February, they knew speed would be critical to rescuing the business.
Avid businesses may have been insolvent as early as November 2019, administrators believe, with underquoted tenders and a Decmil dispute contributing to the demise.
The liquidators of Brierty have launched Supreme Court action to recover millions of dollars from 12 companies they claim received payments while the civil and mining contractor was insolvent.
Privately-owned contractor GenusPlus Group has completed its fifth acquisition in the space of two years, confirming today it has bought EC&M out of administration with plans to retain a small group of key staff to help rebuild the business.
Nearly 160 of EC&M's 400 employees will be back at work in September, with administrators progressing deals with major clients since the business hit the wall last week.
