In 2017 we have come a long way and made our presence felt but now we want to thank some people and hand out a few awards.
2018 Will Be The year of the subbie.
In 2017 we have made great inroads into the pre insolvency and liquidation industry and put on notice the people who think the theft of subbies money is their god given right.
The liquidation industry knows now that subbies will not sit idly by and let them suck up all available funds to feed their own greed.
We have got the message out there that we will no longer stay quiet and let builders have a nice builder friendly liquidation paid for with our money while salting away millions of dollars that belong to subbies. We will pursue them every time and attempt to change the liquidators at every opportunity.
We have facilitated creditor appointed liquidators or administrators to;
- Cullen Group
- Q1 Homes
- Rimfire Constructions
- CMS Ashtay
- We also had a hand in getting what I am told amounts to 11 million dollars back to creditors in the Bloomer Constructions disaster.
We put the wind up a few others including CRCG Rimfire and Bluestone but those two were stitch up jobs from the start where large creditors had their own agenda and couldn't have cared less about small subcontractors.
The SubbiesUnited Team
SubbiesUnited now has a well organised and cohesive team of industry experts and advisors including the best construction lawyer, liquidation experts and hard working people including one lady in particular who was a Cullen victim and over the past 12 months has become something of a very astute investigator and with her work, "the silent assassin".
She could be having an emotionally good time but instead has focussed her energy and is working hard to help us change the industry.
SubbiesUnited also works closely with Subcontractors Alliance led by Les Williams and his team who have done exceptional work this year, they are tireless in their efforts to get a fair go for subbies.
We also have honest liquidators we can call on who will actually do the job they are paid to do and that is to thoroughly investigate these liquidations, hold to account the directors and retrieve money that belongs to creditors.
It is a long slow and expensive process but I believe that Menzies Advisory will buck the trend and actually get a return for creditors in at least two of the current jobs they are working on.
Public Examination
Les Williams was the driving force to ensure that the State Labor Government would fund a 2018 public examination of the directors of Cullen Group and Queensland One Homes.
This is a giant leap forward in our quest for justice for all those subbies who go to work every day and then come home with nothing when the builder decides they want to build their own unit complex or buy another investment property with subbies money.
It will be standing room only at next year's public examinations when the Liquidator’s lawyers grill the director and all of their cronies. Anyone with something to hide should consider telling the truth, the consequences of not doing so are dire.
How did their alleged inflated work in progress figures get past the QBCC on more than one occasion?
We know how and so will the public after these public examinations are complete and we will demand that those responsible are held to account for subbies losses.
Worst Liquidation Award
We agonised over this one for 2 minutes but we believe Worrells should get this coveted award for their abysmal lack of investigation in at least two liquidations. The one that sealed the award was Bluestone Constructions where, after promises that they would do a good job for creditors, a few months later they said there is no money to fund an investigation and invited creditors to throw a few bucks their way to help out. They couldn't find an elephant in the room.
The other one was CKP Constructions where two of their people sat in my office and told us what a great job they would do but as usual, nothing has been done and creditors are left penniless.
Best Liquidation Award
Menzies Advisory wins this one for their diligent and brilliant investigative work on Cullen Group and their doggedness in the face of a lack of company files with Queensland One Homes because someone left the computer out in the rain, no doubt on purpose.
They were treated with absolute contempt by the director to the point where the liquidator said "it is the worst case of breaches of a directors fiduciary duty I have ever seen". I cannot wait for the public examination of this person, it will be a real treat to see him actually be forced to tell the truth for once.
Rest assured subbies, there will be justice here and hopefully, a return to creditors.
Incompetence Award
The QBCC wins this in a canter.
How did the QBCC approve an 18.2 billion dollar licence for CRCG Rimfire based on financials and a deed where the assets are in China and are not obtainable by creditors here in Australia?
What sort of incompetence allows that to happen?
Hopefully the Minister for Housing will put a broom through the QBCC and all the hangers on making their living from the misery of subbies. That means lawyers and accountants whose names seem to continually pop up and who walk the halls of power like they own the right.
Best Service To Subcontractors Award
Project Bank Accounts are Les Williams baby, he has fought long and hard for the past 4 years for some justice after the Walton Constructions theft.
Subbies will have a better year in 2018 and beyond thanks to Subcontractors Alliance and Les Williams for his work on security of payment with an act passed by Labor in the Queensland Parliament just before the election.
Anti Industry Award
This award goes to those two erstwhile (old, useless, out worn their usefulness) organisations, the MBQ and the HIA for the massive waste of their members money with a huge anti project bank account and anti Mick De Breni advertising campaign that blew up in their face when the PBA legislation went through Parliament and Labor were re elected.
They then had the hide to try and take credit for it with a "thank you for listening Mr De Brenni" advertising campaign.
They are laughable and should not be called a "peak body" as they only represent a small number of subbies who are only members for insurance and a small number of large builders.
"Dead body" would be more applicable.
Merry Christmas & A Happy New Year
I would like to take this opportunity to wish in particular, all SubbiesUnited members and all honest participants in the building industry a very Merry Christmas and a prosperous, safe and Happy New Year.
This is the best time of year so enjoy the time you have with your family.
