May 11, 2023 By subbiesu Leave a Comment

GCB Constructions boss Trent Clark responds to concerns over his company’s financial viability

The boss of GCB Constructions has given his side as developments worth hundreds of millions of dollars remain idle and subbies remove tools. Read what he said

Kathleen Skene Follow 3 min readMay 11, 2023 - 12:55PM

Gold Coast Bulletin

Business

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The boss of GCB Constructions has said his company is “a long-term, viable business”, despite work stalling at development sites along the Gold Coast.

Concerns grew over the financial stability of GCB Constructions this week, as subcontractors downed tools and collected supplies from the sites, saying they hadn’t been paid.

Off-the-plan buyers of more than 500 apartments have been left in limbo across five residential towers GCB was building across the Gold Coast, including a tower in the $200m Vantage project at Benowa; $160m Amaya Broadbeach; Drift Main Beach; $51m Cote Palm Beach; and the $182m Marine Quarter Development in Southport.

The developers of Amaya Broadbeach announced they would take on the build of that $160m tower themselves, forming a company to do it on the same day the Gold Coast Bulletin reported that work had stalled.

SU Note: If “GCB Constructions is a long-term, viable business" as stated by the managing director, then why are subbies unpaid?

If GCB cannot pay its accounts when they fall due, then clearly they are trading whilst insolvent and it should be wound up.

What the director is doing to subcontractors and suppliers is wrong and nothing more than hubris. Bite the bullet mate and pay up or piss off.

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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.

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.