A MORNINGTON-based construction company has gone into receivership owing 92 creditors almost $465,000 and raising fears it could be the first of more bankruptcies due to a softening in the building industry. The 92 people and companies listed as being owed money by Nepean Constructions (Australia) were notified of the company’s demise in a letter from liquidator David Vasudevan. It came as a surprise to many, particularly those still working on construction sites on the peninsula. Michael Knoop, proprietor of Alltrade Scaffolding, which is owed $7784, said he knew of one Nepean Constructions building site where a delivery of timber…
Monday, December 23
