February 24, 2022 By subbiesu Leave a Comment

Probuild, Monaco Hickey, WBHO Infrastructure in administration after tradies ordered off building sites

By business reporter Michael Janda Posted 3h ago3 hours ago, updated 24m ago

A total of 18 businesses in the WBHO Australia Group, including construction giant Probuild, have been placed into administration.

Key points:

Probuild's South African parent company has pulled financial backing for its Australian operations
That decision resulted in the directors of the Australian building companies placing them into administration
The affected companies have around 750 employed staff and work with thousands of contractors

Deloitte has been appointed administrators by WBHO Australia (WBHOA), which directly employs around 750 people and has thousands more contractors working on its projects.

The company has annual revenues of $1.4 billion and has 18 major commercial and public sector projects in varying stages of development across Victoria (13), New South Wales (3), Queensland (1) and Western Australia (1).

While originally established in Western Australia in 1987, WBHOA is now based in Melbourne, with offices in Sydney, Brisbane and Perth.

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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.