BSA unsure of Hedley creditor numbers

The Building Services Authority (ASX: BSA.ax) says it is not yet clear how many creditors have been affected by the collapse of Hedley Constructions.

The firm, and eight other companies in the Hedley Private Group, went into receivership on Wednesday with debts of more than $150 million.

The building regulator says it will take receivers several days to assess Hedley Constructions' financial position.

The company was working on four projects in Cairns and Townsville in north Queensland.

The BSA's general manager, Ian Jennings, says he has met company management and receivers, and has given permission for work to resume on three projects, which are only weeks away from completion.

Mr Jennings says he is now liaising with receivers to secure the best outcome for creditors.

"The Hedley Construction arm has ... told me that they were fairly well up-to-date with payments," he said.

One of the company's suppliers has told the ABC that Hedley Constructions has been cooperating with creditors and it is confident it will not be hit by the collapse.

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Fri 3rd July 2009 - 12:37pm