"New data from the corporate regulator reveals insolvencies have...

"New data from the corporate regulator reveals insolvencies have hit a record high over the past 12 months, led by widespread failures in manufacturing and construction, which accounted for almost one-fifth of collapses."

Firstly manufacturers are going to the wall because of the mining industry,(the high dollar),secondly I wonder how many of the construction companies had BER contracts which the states and territories government BMW departments screwed up.

"Govt contractors claim $7.8m overdue pay
Subcontractors believe they are owed almost $8 million for work they did on projects managed by the State Government, WA’s Small Business Commissioner has found.

Commissioner David Eaton, who was asked to investigate the failure of building companies to pay subcontractors for work they did under the Federally-funded Building the Education Revolution program, delivered his first report to Finance Minister Simon O’Brien on Wednesday but will not complete his final report until the end of January.

Mr O’Brien said the subcontractors had claimed total losses of $13.6 million, $7.8 million of which was linked to projects managed by the Department of Finance’s building management and works division.

More than half the $7.8 million figure related to projects carried out under the BER program.

Irate subcontractors started sending letters to Mr O’Brien’s office in November last year through high profile lawyer John Hammond, demanding the State Government compensate them for the losses.

They argued BMW breached its duty of care to subcontractors by failing to investigate, inquire or ascertain the solvency of its contractors, despite several contractors telling BMW they were not being paid."

http://au.news.yahoo.com/thewest/a/-/breaking/15692496/govt-contractors-claim-7-8m-overdue-pay/

Raider