Fighting for subbies rights
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It was inevitable in this situation that eventually, the QBCC would have no choice but to suspend Bloomer Constructions Licence.
This afternoon the QBCC suspended Bloomer's licence.
The QBCC have been patient and from the feedback I have received from many subbies, the regulator has done their job well under exceptionally demanding circumstances.
The suspension may add a layer of complexity to the situation but they were not trading on their licence anyway so it changes little in that regard. No doubt, the time will come where the next step is taken.
To be clear, the licence was not cancelled, it was suspended due to condition breaches. Basically, Bloomer Constructions exhausted all funds available at this time but there is more to come in the future in claims, bank guarantees and retentions. Those monies will go to pay creditors.
Bloomer Constructions have a team assembled to take care of maintenance and defects to ensure those retentions are retrieved as time passes.
I believe the QBCC and Bloomer Constructions have done the best they could do with an extremely difficult and complex situation involving hundreds of subbies, suppliers, projects, developers and clients.
Again, we reiterate what was said in previous updates, that creditors should seek their own legal advice from experienced construction lawyers.