Canberra builder's debts reach $25 million

Another two active projects have also been identified in addition to the 14 construction jobs the company had under way.

Project Coordination entered voluntary administration in March after nearly 50 years of trade in the ACT and NSW.

Initial investigations into the company revealed it owed more than 200 creditors an estimated $20 million.

Those figures were updated when administrators RSM Australia met with creditors on Tuesday.

More than 70 creditors, mostly subcontractors and suppliers, attended the meeting.

RSM Australia partner Jonathon Colbran said administrators had received about 200 creditor claims valued at more than $25 million.

"Despite the challenging situation the meeting was productive and constructive," he said.

Most of the group's 67 staff members were made redundant at the time of administration.

At meetings in both the Canberra and Wollongong offices in March, staff were told they would receive "the majority of their employee entitlements immediately" and the remainder would become a priority debt.

Directors Paul Murphy and his son Gavin Murphy released a statement at the time, which said they had "agonised" over the decision to enter administration.

Administrators have not disclosed the 14 active work sites Project Coordination had at the time of administration.

However The Canberra Times confirmed a $12 million government project to build a conservatory at the Australian National Botanic Gardens was among the active jobs.

Project Coordination was appointed to build the 17-metre-tall "floating cube" in 2021 and was expected to complete the structure by mid-2024.

It is understood the project will be "delayed considerably".

An expansion project at Gungahlin College, a noise remediation project at the Nishi building in NewActon and a townhouse development in Narrabundah were also among the group's active jobs.

The builder had four projects under way in NSW, including the construction of a new $16 million police station in Bega.

Another two projects have been identified by the administrators, both in the ACT.

One was at the design stage and the other had not formally reached practical completion but the owner had already taken possession, Mr Colbran said.

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About a quarter of Project Coordination jobs had restarted following discussion with developers and principals of the projects.

"We undertook an immediate review of the projects that were underway but had ceased immediately prior to our appointment and contacted project principals to discuss the status of contracts and options to recommence construction and re-engage subcontractors, where possible,'' he said.

Mr Colbran said Project Coordination company directors had been assisting the administrators.

"This is a complex administration based on the size of the company, its operational footprint across two states, and its current project contractual arrangements," he said.

"Our priority is to recover and preserve company assets and maximise their value, for the ultimate benefit of creditors. This takes time."

RSM Australia will consider seeking to extend the period of administration due to the complex nature of the process.

"We will update creditors in due course regarding the proposed way forward regarding a possible extension of the administration," Mr Colbran said.

Project Coordination was one of four construction businesses that collapsed within the space of about a month, affecting staff and projects in the ACT.

Project Coordination has delivered more than 900 projects worth more than $2.5 billion.

Paul Murphy, 72, was one of the original employees of Project Coordination when it started in Canberra in 1975.

"I'm devastated,'' Mr Murphy said in a statement in March.

Mr Murphy said the "economic and regulatory environment" had made the construction industry more challenging than he had ever experienced.

"Nothing has been as bad as this," he said.