Pierse gets a week to convince court to extend protection

PIERSE Contracting has been given one week to convince the High Court to continue court protection to it after a judge expressed concerns about the company’s survival prospects and other issues, including a claim it traded for 18 months while insolvent.

The company had asked Mr Justice Peter Kelly yesterday to appoint John McStay as examiner to Pierse Contracting and Pierse Building Services but the judge adjourned the petition to next Thursday to allow the company respond to his own concerns and several issues raised by creditors. He had insufficient information to decide the matter now, he said.

The judge continued court protection in the interim and also made orders providing for the payment of wages to the companies’ 109 employees.