EXECUTIVE director of Noske Group, Tony Noske has made a bid to buy back Whitpark, one of four companies which makes up the group.
Administrators John Lindholm and Brendan Richards, of Ferrier Hodgson, will likely accept the $2.5 million offer made by Mr Noske on December 6 and will end their administration at the final meeting of creditors today.
The sale will include the transfer of all 75 employees including existing employee entitlements, valued at $1.06 million in superannuation and annual leave, Mr Lindholm said in a letter to creditors.
If the sale isn’t agreed upon, the Whitpark branch of the company will be dissolved, he said.
Whitpark provides people, equipment and administration services to Noske Logistics and Noske Plantation Logistics on a hired basis.
“The sale to Logistics andPlantationwill provide a better outcome for the secured creditor, lease/hire purchase financiers and employees than an auction sale of the company’s assets,” Mr Lindholm said in a letter to creditors last week.
Mr Noske said he was 100 per cent confident the sale will proceed today.
Read more in Monday’s Portland Observer.