Building company gone in to liquidation

hi,
I've recently brought my first block of land with the intention to build on it, I've signed the land contract as well as for the build with a largish building company "builton group"I went through one of those investment companies (regrettably)

Anyways over the weekend it has been announced that builton has gone in to liquidation
Carpentry contractor forced into liquidation

I'm just after some advice from some more experienced people or people with more knowledge on this situation

Cheers

 

Hi @Adam J, sorry to hear that.

You would need to seek legal advice on the building contract. I would be looking to end that contract and get a new one done up with another builder.

Melissa Dixon from MDH Legal in Osborne Park will be able to advise. Good operator who doesnt charge like a wounded bull, especially if you drop my name as we send everyone to them for settlements and legal advice

 

Thanks for the advice! I'll definitely do that when I get back in Perth from work

 

That article says a sub contractor carpenter has gone into liquidation because Builton hasn't paid them not that Builton is actually in liquidation.

But things aren't looking good if they aren't paying their subbies

 

Hi Adam, yes Builton have "closed their doors". Voluntary administration will follow soon no doubt. I've been a consultant in the project building game for over a decade now. I helped out a couple after Benchmark Homes collapsed, they had a slab down so it was tricky but we took over the build!

Thankfully you're not too far into the process but never the less, a pain for you. Look out for a notice from whatever liquidator is handling the issue (if it gets to that point!). There wil be details on what insurer to contact etc. You might be able to get some compensation to cover your expenses, but that'll be something you will need to investigate further.

If you need any help don't hesitate to yell out! Best of luck.

 

Tim Guest and Infinite Wealth? They seem to be dragging a few companies down at the moment. I feel for the many subcontractors of Builton and their clients.

I think at this stage it's lucky nothing has gone to site for you. How much money have you paid and has the land settled and you own it now? If the land has settled and construction hasn't started then it might be somewhat simple to go find another builder to do the project. You will need to wait for the official steps to take place though by administration first.

Builton close to collapse

 

Builton bought the old KFC site on Fitzgerald St. The sign on the fence states "100% completion success rate". I always get a bit sceptical when companies have to advertise like that.

 

info from the administrators
http://www.corcordis.com.au/wp-content/uploads/2017/01/Notice-to-House-Owners-signed.pdf