Heard from QBCC this morning they have confirmed they received no response from our complaint.
They have issued a notice to CRCG-Rimfire, if they do not pay by the 12th of December their licence will be suspended.
Hopefully it’s not to little to late. But after the above article and the removal of the website, it certainly does not look good.GregParticipant
I would also recommend submitting a QBCC Monies Owed complaint via the above link.
We did last week, and spoke with QBCC yesterday, the more complaints to them for CRCG-Rimfire the better.RoonaBlocked
They are not going to turn up, go to their offices and see if there is anything left if you must.
It would seem that, if going on past experience with Rimfire Constructions, the directors may now be spending what monies are left (on consultants, extra superannuation, entertainment and travel) and are probably getting insolvency advice on how to hide assets from subcontractors.
You really have only one option and that is to contact a lawyer, issue them with a Statutory Demand (don’t fluff around with “final demand” letters, they mean nothing at all and will end up in the bin with all of the others), wait the required time (21 days?) then liquidate them. I would expect that considering all of the information that is out there about this and related entities, it would be extremely unlikely that they would be able to trade out of this.
I am afraid the most likely scenario is that the money that you are all owed is gone.
What is much worse is that if you have not insured your contracted amount or registered it with PPSR then, if the company is liquidated, all of the sub-contractors will be forced to repay all of their payments from CRCG Rimfire from the 6 months prior to administration/liquidation.
If running a business and dealing with building companies like this isn’t bad enough, the Preferential Payment laws are soul crushing and add further devastation to the small business, sub-contracting industry, their owners, families, relationships and that of their employees.NickMember
1 – if you are still considering working for them, best check current financial and company status. We are receiving negative reportage from CREDITOR WATCH regarding Rimfire. I believe the JV has been dissolved.
No it’s not a Phoenix, they don’t make them that big. Their license is the second biggest in Queensland. Its a legitimate entity but that doesn’t mean I think it’s right, the size of that license is obscene and if one day they pulled the pin, it could cause enormous damage to subbies and the industry.
Rimfire Constructions has another entity called Rimfire Constructions (Resources) Pty Ltd which would be closer to a Phoenix than CRCG although it hasn’t done anything wrong.
I don’t think Danny has much to do with CRCG. He said they were to put funds into Rimfire Constructions to pay subbies and that hasn’t happened.BbsBlocked
So it’s practically a Phoenix set up if rimfire construction qld goes down I’m sure Danny will remain in Day to day running at crcg rimfire.
And if you are a creditor of rimfire constructions qld you would really be questioning what would compel them to pay you?
I can’t see where Danny is a director of CRCG Rimfire.
Depending on what deed or contract they have between them, if Rimfire Constructions (Qld) was liquidated, I cannot see it affecting CRCG.
CRCG has a licence capacity of 18 billion dollars. They would have had to show equity of 700 million or thereabouts to get that licence capacity. There is a screen shot of the letter from the QBCC on the Rimfire story on the home page granting that licence with the stroke of a pen. It is a recipe for disaster.AndyParticipant
If CRCG has as much capital as they have convinced the qbcc then why don’t they just bail rimfire out? As Ash said surely a rimfire insolvency will financially affect crcg?BbsBlocked
I’m not a creditor but can I ask what will become of rimfire crcg if they go broke? Obviously Danny cannot be the director?
I beg to differ QS1.
We all know how hard it is to get retentions released from builders. After the defects liability period, they get back their retentions but rarely hand it back to subbies without a fight. That’s certainly one area they use retentions for their cash flow.
Retentions are an unnecessary impost. If we all use your suggestion of adding 5% to the quote to cover retentions, that add’s 5% to the cost of the job. Builders and the industry is so tight and competitive, you would rarely win a job adding 5% to your estimate. An example of a competitive industry is Rimfire working on 3% margins and look where they are now.
I know plenty of subbies who are owed many thousands in retentions.
We are owed 20k in retentions by Bloomer and to add insult to injury, our Debtor Insurance does not cover retentions.
A bricklayer who called me tonight, is owed $30,000 by Rimfire Constructions alone and the way they are travelling, he might never see a cent of it.
Under ACCC we all have to provide warranty on our work but if they cannot work under that warranty, then some independent body should administer retentions because builders use it as their own.