Liquidators have the director of a Brisbane construction company in their sights and he now faces legal action and potentially losing his house as he’s pursued for close to $500,000.
Chris Herde, The Courier-Mail Subscriber only|July 21, 2020 3:34pm
THE owner of a collapsed Brisbane building company now faces being sued and losing his house as liquidators pursue him for almost $500,000.
Mansfield-based Bulkbuild, which was controlled by sole director Digen Hur, went into voluntary administration in May and then a month ago Hall Chadwick’s Ginette Muller and Marcus Watters were appointed liquidators.
Collapsed builder could owe up to $5m
Bulkbuild administrator ousted as debts rise to $4m
Bulkbuild battle erupts as debts double to $3.4m
Brisbane-based builder collapses owing $1.6m
When Bulkbuild collapsed it initially owed about $1.6 million but creditors claims could now be as much as $5 million.
Ms Muller said the liquidators may have to start legal action to get Mr Hur to pay $480,000 which was guaranteed through the Queensland Building and Construction Commission’s Deed of Covenant and Assurance.
She said the guarantee on Mr Hur’s jointly owned house was due to expire in a fortnight.
“Currently no proposal has been received as to how the director will satisfy that claim and the liquidator may have to commence legal action to enforce the security,” she said.
The QBCC suspended Bulkbuild’s licence on March 11 for its failure to meet minimum financial requirements.
However, it reinstated the licence on April 7 after Bulkbuild showed that it had taken steps to improve its position to the point where it met its financial requirements.
Leave a Reply
You must be logged in to post a comment.