RECEIVER APPOINTED TO TRIDENT TOOLING, ASIA PACIFIC TOOLING, ACTIVE PLASTICS
Ferrier Hodgson partners David Kidman, John Hart, and George Georges have been appointed Receivers and Managers over various companies in the Trident automotive supply group. Trident Plastics appointed voluntary administrators on June 9.
Mr Kidman and Mr Hart have been appointed Receivers and Managers of Trident Tooling and Asia Pacific Tooling. Mr Hart, Mr Georges and Mr Kidman have been appointed Receivers and Managers of Active Plastics
Ferrier Hodgson has not been appointed to Trident Plastics, which is continuing to operate its business as usual.
Mr Kidman said Trident Tooling would be closed this morning, resulting in the redundancy of 40 employees.
“Trident Tooling completed a significant contract with a major car maker in December last year and has not been able to replace that work, with a catastrophic effect on its cashflow,” Mr Kidman said.
Mr Kidman said he was hopeful that employee entitlements would be paid in due course under the Federal Government’s employee redundancy scheme, GEERS.
Buyers would be sought for plant and equipment held by all three companies.
Ferrier Hodgson Group is one of the Asia-Pacific’s largest independent providers of
corporate recovery, advisory and forensic services.
FOR FURTHER INFORMATION:
David Kidman: 0411 444 916
John Hart: 0417 081 380