Well-known Canberra builder to be wound up

A prominent Canberra building company is being wound up after more than 50 years of trade in NSW and the ACT.

Project Coordination, a family-run business, entered voluntary administration in March 2024.

RSM Australia partner Jonathan Colbran was appointed liquidator at the time.

A decision wind up the company was made at a second creditors' meeting on August 29.

The following day, a notice was special resolution was issued through the Australian Securities and Investments Commission, stating the company has been voluntarily wound up.

"The liquidation is simply the next step in the process to allow us to continue to advance the work already underway to determine the final value of creditor claims and realise the assets available for creditors," Mr Colbran said in a statement on September 4.

"We will continue to keep creditors informed on the progress of the liquidation and will provide a further re-port to creditors within the next three months."

The liquidation is expected to take at least a year to be completed.

A report to creditors from RSM Australia in July suggested the company's liabilities to unsecured creditors could be as high at $44.5 million.

Construction of the Ian Potter National Conservatory, which Project Coordination was working on, under way in November 2023, and another project at the time of voluntary administration, inset. Pictures by Keegan Carroll, Karleen Minney

Three ACT government projects with a total value of more than $10 million were named in a report to creditors during July 2024.

This included the refurbishment of the Fitzroy Pavilion at EPIC had a contract value of $3.85 million.

The spokesperson at the time said a new project manager had been engaged for the site and work was under way.

Early investigations indicated the company could owe an estimated $25 million to about 200 creditors.

RSM Australia partner Jonathon Colbran said in July the administrators had systematically been working through the company's financial affairs and engaging with the principals of the projects that were still "live" at the time of their appointment.

Project Coordination is one in a string of builders to collapse in recent years, including PBS Building which entered liquidation in 2023.

National builder Rork Projects also entered voluntary administration, leaving dozens of ACT projects in limbo.

Cubitt's Granny Flats and Home Extensions, a 30-year-old ACT-based business, also went into voluntary administration in February 2024.