Contractor’s creditors to be paid in full

Pic: Business News.

Creditors of the Eastern Guruma contracting company — placed in voluntary administration in October — will be paid in full by November, administrator Kim Strickland said this week.

Mr Strickland said the company was “proceeding well” after creditors accepted a deed of company arrangement late last year.

The arrangement will see creditors paid five percent on top of the amounts owed to them.

Eastern Guruma Pty Ltd is facing about $5 million in gross claims.

The company, owned by members of the Eastern Guruma traditional owners in WA’s Pilbara, has multimillion dollar projects with some of the biggest names in mining. It also has interests in cattle stations.

Three administrators were appointed to the company at the request of the company’s directors.

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