January 20, 2020 By subbiesu Leave a Comment

Builder goes into liquidation leaving subbies unpaid

BILL HOFFMAN 20th Jan 2020 6:43 PM | Updated: 7:21 PM
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Builder goes into liquidation leaving subbies unpaid

Ri-Con Contractors director John Jenkins (right) on site in 2010.

Bill Hoffman

BILL HOFFMAN20th Jan 2020 6:43 PM | Updated: 7:21 PM
Subscriber only 1

SUNSHINE Coast builder Ri-Con Contractors Pty Ltd has gone into liquidation leaving as yet unknown debts to subcontractors and secured creditors.

Liquidator Paul Nogueira of Worrells was called in this morning.

He said he would have a clearer understanding of the company's position when he had gone through the records tomorrow morning.

RiCon contractors director John Jenkins in 2010.

Ri-Con Contractors had a number of local government projects including the $3,484,000 Sunshine Coast Council tender for the Caloundra Tennis Centre, the completed $2.8 million joint Gympie Council and state government Building Better Regions Gympie Skate Park and projects with Noosa Council.

The tennis centre contract was awarded in December, 2018, and is yet to reach practical completion.

Caloundra Tennis Club president Michelle Wood, Mayor Mark Jamieson, Sunshine Coast Regional Tennis Centre manager Matt Deverson and Deputy Mayor Tim Dwyer at the announcement of the awarding of the $3,484,000 tender for stage two work at the start of 2019.

It represented stage two of what ultimately would be a $5.6 million upgrade.

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SubbiesUnited is not “anti builder”, we support strong builders.
We are “anti theft” of hard working subbies money.

It’s not just about the builders who go broke, businesses all over Australia Liquidate every day for a variety of reasons.

It’s about the ones that engage in calculated criminal behaviour such as providing false information to the regulators or inducing subbies to work on a site when they know they cannot or are not going to pay them because of a fraudulent scheme. Its about the participation of the banks, pre insolvency advisors and builder appointed Liquidators to fraudulently defeat creditors.

Liquidators should always be appointed by creditors to ensure a thorough investigation takes place.

We want the rogues investigated and prosecuted for fraud so our goal is to pressure the Queensland Government to set up a fully funded Police Task Force to investigate and prosecute Construction Industry fraud.

SubbiesUnited was created to provide subbies with collaborative information on building companies that are showing signs of insolvency or struggling to pay their creditors. The signs are always there, we just need to get the message to each other before it happens.
We provide subbies with up to date news on builders in Administration or Liquidation and the best strategies to get a return.
There are some extremely litigious builders out there who would rather sue you than pay you. Often they sue you so they don’t have to pay you. We will expose them.
The construction industry is renowned for building companies setting up illegal Phoenix operations, shifting assets, then liquidating sending subbies broke. We work with other subcontractor & supplier organisations & Governments to stop what amounts to legalised theft on a massive scale though pre packaged liquidations. Insolvency is used as a means to defraud Subbies.
Our aim is to limit the financial damage before it happens with our “members only forum”, an early warning system for the benefit of all our members.