Deals & Departures

FEG chasing ex-PPB orphan over Reed millions?

Ex-Reed Constructions Australia liquidator Mark “Robbo” Robinson. Image: www.hiredgun.com.au INO’s antennae have of late been swaying to the faint but unmistakable sounds of sensitive negotiations. Sensitive because they involve the FEG Recovery Unit, the current liquidators of Reed Constructions Australia and possibly Reed’s former liquidator Mark “Robbo” Robinson. Also sensitive because we can’t get anyone to divulge much about them, though no one contacted has…

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PPB partnership payment facility frozen

With the dissolving of the PPB Advisory (PPBA) partnership imminent, rumours are that draw downs on the PPBA partnership’s loan facility are suspended as management sets about repaying the firm’s working capital facilities to PPBA’s bank, ANZ ahead of the August 1 deadline for the completion of PwC’s acquisition approaches. Several sources who spoke to INO confirmed hearing that distributions to partners had been frozen. One…