Louise Brannelly, The Courier-Mail May 24, 2019 5:03pm Subscriber only
THE building watchdog has suspended the licence of Brisbane builder De Luca Corporation after it failed to meet the regulator’s financial requirements.
But the company, in a statement on Friday night, said it expected to resolve the issue over the weekend.
The Queensland Building and Construction Commission said De Luca was a large value licensee with an annual turnover of more than $230 million but it currently had a net asset position of negative $3.2 million.
“Last month, we issued the company with a show-cause notice and it has been unable to demonstrate that it meets mandatory financial requirements,” Mr Bassett said in a statement issued on Friday afternoon.