Fighting for Subbies Rights
It has been many months of deafening silence from the Bloomer Administrators but with a bit of prodding last week, they have finally woken from their slumber, yawned long and hard and then at their leisure, released an update with a notice to creditors dated 21st March 2018.
As expected, the low hanging fruit which is the Onterran contribution to the DoCA has been complied with by Onterran.
We are aware that Bloomer staff have been attending to defects to protect the retentions.
Please read the notice to creditors to give yourself an understanding of where we are at with Bloomer Constructions.
The end of the defects liability period is now here so it's time to put some of the developer debtors on notice that a public examination may be coming their way.
I notice in the report that Jirisch Sutherland have said a key element of the deed was that the company and Onterran (not the Deed Administrators) job was to use their best endeavours to collect debtors and receivables due to the company. I was not aware that Jirisch had absolved themselves of using their power to help collect debts. What about a few public examinations of any developers who won't pay up?
My understanding was that the Administrator would use their powers to assist in this most important aspect of the deed but to date, I think they have been a bit slothful, or perhaps listless. That can happen when you lay in a hammock all day on a tropical island paradise holiday paid for by someone else.
If they want to renege on this, maybe creditors need to have a meeting to see what the administrators intentions are going forward in terms of getting the best result for creditors and to discuss who would do that job to the best of their ability.
After all, Jirisch Sutherland and their lawyers have earn't in excess of 1.1 million dollars in fees and in my opinion, to leave it to the cash strapped parent company and a builder in administration to collect the money is just bone lazy.
Subbies we are in the wrong business, we should have all become glorified accountants and just kicked back and made an easy couple of mil a year off the back of subcontractors.
Time to earn that 1.1 million boys and get something back for the creditors who put their trust in you.