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Construction PRO
A deed of company arrangement for three companies associated with developer Descon-Adcon has fallen apart after former boss Danny Isaac failed to make a $5 million contribution required under the rescue plan.
Japanese bank SMBC, which was duped by fraudster Bill Papas to enter into agreements with a Humm subsidiary for assets and receivables that didn't exist, has won the right to call in warranties on its $113.7 million investment.