Queensland building giant Privium Group has officially collapsed with debts expected to be more than $28m and at least 160 projects left unfinished across Australia.
Administrators have been appointed to Queensland-based building giant Privium Group which had left unfinished houses around the country.
Privium on Wednesday appointed John Park, Joanne Dunn, and Kelly Trenfield, of FTI Consulting, as voluntary administrators over a number of companies in the group, effective immediately.
The administrators said they would conduct an independent assessment of the financial position of Privium and seek to make a recommendation for the company that was in the best interest of the creditors and stakeholders.
Subbies United director John Goddard said he had been contacted by tradespeople from across the country caught up in chaos surrounding Brisbane-based firm Privium Homes earlier this month walking away from more than 160 unfinished houses leaving debts expected to be more than $28m.
Subbies and suppliers, in fact all creditors, please contact us on email@example.com so that we can plan where to go from here.
Those paid in the past 6 months will be looked at in regard to preferential payments. There is no getting past that fact but we can ensure an investigation if we can change the liquidator from the director appointee to a creditor appointed liquidator.