The amount of money owed by a collapsed Gold Coast home builder has swelled to more than $16m – more than four times what the director initially estimated.
Kathleen Skene Follow less than 2 min read June 13, 2023 - 12:00PM
Gold Coast Bulletin
The amount of money owed by a collapsed Gold Coast home builder has swelled to more than $16m – more than four times what the director initially estimated.
Pivotal Homes went into liquidation on May 26 last year, leaving more than 100 homes unfinished and scores of subcontractors out of pocket.
A report from director Michael Irwin at the start of the liquidation estimated Pivotal had debts of $3.6m.
The day he announced his company had failed, Mr Irwin blamed “gouging” subbies and suppliers for the situation.
A year later, not a single dollar has been repaid to unsecured creditors.
Wah wah wah, it was all the subbies fault!
Let's not mention a little largesse; i.e; driving a Ferrari to work and the builder trying to fit 57 million dollars of work into a 30 million dollar QBCC licence capacity.
Naw bugger that, let's blame the subbies.
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