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Jackson McDonald has advised the City of Fremantle on a successful implementation of a construction project using Project Bank Accounts.
Firm: Jackson McDonald (City of Freemantle)
Value: Undisclosed for this part of the project.
Area: Finance, construction
Key players: The Jackson McDonald team was led by finance partner Hilary Hunt and construction partner Thomas Jacobs.
Deal significance: According to a statement from Jackson McDonald, this PBA marks the first to be used at a local government level in Western Australia and is believed to be the first implemented by a non-state government entity.
“The use of a PBA will guarantee that subcontractors receive payment within one day of the head contractor being paid, and that the head contractor can only take their portion once the subcontractors have received payment,” the firm's statement explained.
Partner Hilary Hunt noted: “At Jackson McDonald, we’ve developed our own suite of PBA documents, tailor-made for principals, and designed to simplify the process of implementing and managing a PBA for all concerned”.
“... We made sure that the City had the ability to view the PBAs and to take over if things went wrong – but without having to commit resources to actively oversee the payment process or make direct contact with subcontractors,” added partner Thomas Jacobs.
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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