Acro Refrigeration Service hits builder Verus Construction with wind up bid

A Brisbane builder embroiled in a legal battle over the Inala shopping centre redevelopment has been hit with a wind-up bid just months after a failed attempt to tip it into liquidation.

ANOTHER WIND UP BID

The headaches just seem to keep piling up for Brisbane building outfit Verus Construction.

The Teneriffe-based business was hit with another winding up bid this month from one of its subbies, a local group trading as Acro Refrigeration Service.

That followed a similar effort to tip it into liquidation back in February by a different creditor, but that matter was resolved the next month.

Greg Johnson

Meanwhile, Verus, which was launched by sole director Greg Johnson in 2017, remains enmeshed in a number of ongoing legal battles related to the redevelopment of Inala’s main shopping centre.

The Inala Civic Centre suffered severe damage in mid-2017 when fire gutted about 15 stores and caused around $10 million in damage.

The Brisbane City Council approved a new scheme in early 2019 for “Inala Central,’’ a four-storey complex incorporating shops, offices and a function centre.

Johnson did not return a call seeking comment Tuesday and an Acro spokesperson declined to talk to City Beat. It’s understood no defence has yet been lodged by Verus in its dispute with Acro.

BANK REBADGED

Brisbane remains the headquarters for Australia’s biggest customer-owned bank but you wouldn’t know it based on a rebranding effort which kicked off Tuesday.

Credit Union Australia, or CUA as it has been known for yonks, started the new month with a new name, Great Southern Bank.

The makeover, complete with a redesigned logo as the business celebrates its 75th anniversary, might make some wonder if it is (or might eventually be) based south of the Tweed.

But that’s not on the cards for the group, which has nearly 570,000 banking and insurance clients and is making a fresh push to target younger consumers.

Paul Lewis

Boss Paul Lewis identified widespread confusion as a key reason for the rebadging.

“We decided to change our name because our research showed us clearly that half of the country doesn’t know what a credit union is,” Lewis said.

“Now everyone will know that we can challenge the big four banks, without being one of them.”

Last month the credit union offloaded its health insurance arm, which it had operated for 40 years or so, in an effort to ramp up its mortgage business.

Earlier this year it revealed a 26 per cent spike in first-half profit to nearly $27 million.

ROLLING THE DICE

The founder of a Brisbane architectural and engineering firm has just rolled the dice on a rather unconventional choice to take the business forward.

More than 30 years after launching McVeigh Consultants, Michael McVeigh has tapped the outfit’s first female CEO and someone completely outside the industry.

Former journo Yasmine Gray took on the job last month after a 35-plus year career almost entirely focused on public relations, media, marketing and communications.

Yasmine Gray

She formerly headed up Brisbane PR firm Red Havas before its buyout and, before that, spent four years as head of comms for the Australian Baseball Federation. (Yes, apparently that’s a thing.)

Gray hasn’t spent a moment designing buildings but at least McVeigh, who will remain active in the business, won’t have to fork out for external spin doctors!