Receivers have been appointed to several companies in the Becton property group, but they say there will be no impact on the main operating companies involved in development, construction and retirement villages.
Korda Mentha have been appointed receivers and managers of what they describe as "a small number of Becton holding companies." They say the appointments are to the ASX listed Becton Property Group Limited (ASX code BEC) and a limited number of non-trading subsidiaries.
"It is important to understand this is a very limited receivership which affects the ownership and control of Becton, but not the business operations," said Mark Korda, one of the receivers.
"It will be business as usual in the development, construction and retirement operations." Mr Korda says settlements on homes and retirement villas will continue as scheduled and deposits will be preserved.
Korda Mentha says the receivership has no impact on resident contracts, service fees, occupation rights or staff entitlements at the retirement villages, while development of the company's Bonnyrigg and Waterloo sites continues.
The operating companies will continue to be run by their chief executive officer Matthew Chun.
Creditors, including contractors and the company's own staff, will continue to be paid.
"The entity that employs Becton staff is part of the 'headstock', and we can confirm that all salaries will continue to be paid and all accrued employee entitlements will be paid as and when they fall due," added Mr Korda.