❓ Hon. Kate Doust questions the Finance Minister regarding the financial collapse of CPD Group Pty Ltd, specifically when Building Management and Works became aware of their financial difficulties and how the company passed prequalification assessments. The Minister provides dates and context for the assessments.
AnsweredQoN 576Legislative Council
QuestionView source ↗
CPD GROUP PTY LTD — BUILDING MANAGEMENT AND
WORKS
576. Hon KATE DOUST to the Leader of the House
representing Minister for Finance:
I refer to the recent financial
collapse of construction and building services company CPD Group Pty Ltd.
(1) When did
Building Management and Works become aware that CPD Group was in financial
hardship and could possibly be heading towards bankruptcy?
(2) Given that
CPD Group has now gone into liquidation, how did the building company pass the
stringent builders' prequalification scheme and business risk
assessment undertaken by BMW?
The PRESIDENT : Applause from the gallery!
WORKS
576. Hon KATE DOUST to the Leader of the House
representing Minister for Finance:
I refer to the recent financial
collapse of construction and building services company CPD Group Pty Ltd.
(1) When did
Building Management and Works become aware that CPD Group was in financial
hardship and could possibly be heading towards bankruptcy?
(2) Given that
CPD Group has now gone into liquidation, how did the building company pass the
stringent builders' prequalification scheme and business risk
assessment undertaken by BMW?
The PRESIDENT : Applause from the gallery!
AnswerView source ↗
Thank you, Mr President. I thank the
honourable member for some notice of the question and I congratulate her on her
imminent role as grandmother.
Hon Kate Doust : There is about 12 weeks to go, I think.
Hon PETER COLLIER : That is imminent.
Hon Ken Travers : You didn't congratulate me
when I became a grandfather.
Hon PETER COLLIER : I do in retrospect; I apologise.
Where am I?
(1) On 10 May
2016, the weight of information available to the Department of Finance
indicated the CPD Group was likely to enter into administration.
(2) Business risk
assessments are generally undertaken immediately prior to the award of capital
works contracts. The latest such contract was awarded to CPD in August 2015, at
which time the company appeared financially sound.
honourable member for some notice of the question and I congratulate her on her
imminent role as grandmother.
Hon Kate Doust : There is about 12 weeks to go, I think.
Hon PETER COLLIER : That is imminent.
Hon Ken Travers : You didn't congratulate me
when I became a grandfather.
Hon PETER COLLIER : I do in retrospect; I apologise.
Where am I?
(1) On 10 May
2016, the weight of information available to the Department of Finance
indicated the CPD Group was likely to enter into administration.
(2) Business risk
assessments are generally undertaken immediately prior to the award of capital
works contracts. The latest such contract was awarded to CPD in August 2015, at
which time the company appeared financially sound.
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