Troubled asbestos giant allows Canadian demolition operation to die.
Silverdell’s Canadian subsidiary EDS Decommissioning Canada Inc has made a voluntary assignment under the provisions of the Bankruptcy and Insolvency Act (Canada). PricewaterhouseCoopers has been appointed as trustee in bankruptcy.
The latest news follows a troubled period for the company which has seen its shares suspended, EDS managing director Darren Palin and Silverdell interim managing director Phil Farnworth departing. More recently, the company was rescued by turnaround specialist Rcapital Partners LLP in a deal that saw the board purged with the departures of Stuart Doughty, John Matthews, Mark Watts and Mark Hazlewood.
On 14 November, although it was not widely reported, EDS directors including Andrew Booth, Andrew Dale, David Daniels, Tony Fenwick, Ian Johnson and Robert Shaw officially resigned as directors of EDS.
