Not all of Probuild’s projects are likely to be sellable to new builders, administrators of the failed company acknowledged as they fronted up to creditors for the first time on Friday.

The sales process for Probuild, which with subsidiary Monaco Hickey had 18 active projects when it fell into administration last week, was well underway but unlikely to face a clean acquisition, administrator Jason Tracy said, in contrast to sister company Perth-based WBHO Infrastructure.