Clan Construction went into liquidation in March last year and the total amount of all claims, which is yet to be confirmed, is sitting at more than $2.16 million. The company, which was owned by Mr McCormack and businesswoman Michelle Macmillan, undertook mainly residential new builds.
In their latest report, liquidators Trevor and Emma Laing said all physical company assets had now been sold and the negotiated settlement on one completed build contract had been received.
There were transactions that required ongoing investigation by the liquidators. It remained unclear if those investigations would result in any funds for creditors.
The liquidators were aware one of the director-shareholders had been adjudicated bankrupt, and the company in liquidation had filed a claim in the bankruptcy.
The New Zealand Insolvency and Trustee Service’s insolvency register showed Mr McCormack, whose address was listed as Perth, was adjudicated bankrupt in December last year. His occupation was described as maintenance carpenter.
In January, Western Australian rugby club Nedlands announced Mr McCormack would be assisting the club’s premier grade head coach. Last year, he coached the club’s under-15 sevens team.
It was estimated the liquidation would be completed within the next six months. Given the limited assets available, a distribution to preferential and unsecured creditors was not expected, the liquidators said.
