The Victorian government package will provide some relief to buyers that were left without insurance cover in the home builder’s collapse.
Ben Wilmot and Chris Herde 2 min read April 20, 2023 - 8:16PM The Australian Business Network
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Porter Davis customers who had paid deposits to the home builder but were not covered by insurance when the Melbourne-based builder collapsed will be partly covered by a $15m support package unveiled by the Andrews government.
The home company collapsed last month despite the founder pouring in more than $20m in loans, and unsecured creditors are still in the firing line.
Porter Davis collapsed in March.
A report filed by liquidators Grant Thornton revealed that about $32.94m was owed to CBA. Creditors could be owed as much as $100m.
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