VCAT and Insurance Claim

haha, i worry about someone making a rash decision, then figuring out their contract with the builder was in a company name, and companies don't tend to die/disappear too easily.

 

Gave me a headache just reading this stuff.By the companies can trade whilst insolvent in this COVID19 period for 6 months .legislation changed .How many builders trading whilst insolvent?.Be careful

 

Good point! I was also made aware recently by my lawyer that VCAT are running 12 months behind because of COVID. That means you need to wait 12 months before even starting the process on getting a VCAT Order against your builder.

 

Large volume builders better option than custom builders in this period ie Carlisle etc ,but not for small r battle axe projects ,they don't touch them ?? is that right

 

That a generalisation. Bigger they are harder they can fall. Any size builder can be affected by work in progress and cashflow. Larger firms will have all manner of processes to manage on time on cost performance. Some "insolvent" large project builders do get bought out by competitors. Often for their marketing and display homes and designs as well as the incomplete builds which are part funded with VCAT etc judgements

Certain markets are booming not struggling.

Insolvent trading is a Corporations Act risk. The Directors may be personally liable to a liquidator (court judgement) for losses in this situation. And for unpaid staff super and withholding tax sometimes. Prompt insolvenecy advice is always suggested

 

Would you be able to share details of your lawyer

 

hi picket fence.
Are you able to share the details of your lawyer with me? I am going through a similar situation.

Thanks

 

Hi guys, picket helped me a a lot as i am currently going through the same process. If anyone needs help or guidance, feel free to drop me a message.

 

Hi Picket Fence,
May I clarify the time taken from lodging the vmia claim and actually receiving the funds?
Also, did they pay the precise amount of the vcat order on defects and 20% incomplete?

I'm going through the same thing myself and appreciate your help. Thanks

 

I was very interested reading this story and Picket Fence's incredible battle (and generous sharing of wisdom with the forum members). Inspiring!

 

I agree the story was fantastic and helpful though horrifying. I also have a VCAT Insurance issue coming up that I will want to post in a forum like this.

 

This is my go to in my search for a builder . Picket fence you mentioned ,
1)The biggest risk to building a home or doing a development is your builder going bust, do your due diligence! A builder going bust can take years to resolve and can ruin peoples lives.
2) The construction/building industry is 80% full of crooks. Fraud, theft, violence, lies, deceit is rife... There are a few good eggs in the game, such as the builder who helped complete my half built house. It is a shame there are so few good ones.

Other than checking the ASIC data base for insolvent builders ,what else can you do ? Should I ask for bank statements etc?
I agree with your 80% assessment of the building industry being full of crooks etc . Can you name the builder who helped you complete your house ? Thanks

 

Hi Blackmores, im going thru the same issues as picket and yourself. Would you be able to share the name of a solicitor that may have helped you with this please? That would be greatly appreciated. Thanks

 

Make sure they have the required insurance that protects YOU if they become insolvent AND dont pay them in advance so that the value of the insurance may still equate to the costs for a replacemnet builder to complete the work paid by the policy. Each state has a agency. Due to dodgy practices most states allow you to check a register that indicates if the policy is valid. It usually must be given to you at a point prior to commencement

https://www.consumer.vic.gov.au/lic...s-and-insurance/domestic-building-insuranceic : Domestic building insurance

 

Hi fella, going thru the same pain now. Would be good if I could have a quick chat with you when you have a moment please?

 

After the Porter Davis meltdown not long ago the Victorian planning minister announced a range of reforms to the VBA (toothless tiger) .I thought this will finally bring some relief and peace of mind to all those clients like Picket fence and the many many others dealing with crooked builders in the building industry . James I hope you have a much smoother ride in making those claims against your builder .