©istockphoto/antb

Scathing report released into Hastie collapse

THE administrator appointed after the spectacular collapse of building services company Hastie Group last year has released a scathing report into what went wrong.

The collapse left 2,700 workers without jobs, unsecured creditors were owed millions of dollars and the big four banks now face write-offs of hundreds of millions of dollars.

The report by administrator PPB Advisory suggests there were inadequate management systems and poor controls within the company.

A leading Australian accounting firm has also been caught up in the mess.

Craig Crosbie from PPB Advisory helped prepare the administrator's report. He told the ABC's 7:30 management got it dreadfully wrong.

Read more at ABC news online.



Gympie region quarry will hurt property values and lifestyle

premium_icon Gympie region quarry will hurt property values and lifestyle

Council puts company ahead of ratepayers if it approves: letter

GALLERY: Gympie netball stars shine at carnival

premium_icon GALLERY: Gympie netball stars shine at carnival

GALLERY: Gympie netball stars shine at carnival

Emergency crews kept busy as grass fire flares near Gympie

Emergency crews kept busy as grass fire flares near Gympie

fFirefighters are currently backburning, strengthening firebreaks.

Local Partners