March 10, 2020 By subbiesu Leave a Comment

United Project Partners accused of inflating quotes to secure more finance

Quotes were being inflated at a collapsed regional Queensland building empire to secure more money from the bank, a court has been told.

Blake Antrobus, Sunshine Coast Daily Subscriber only|March 10, 2020 5:28am

QUOTES were being inflated at a collapsed regional Queensland building empire to secure more money from the bank, a court has been told.

Former employees of property developer United Project Partners revealed the explosive allegations on the first day of a public examination into the property developer at Brisbane Federal Court yesterday.

United, once a leading property developer across regional Queensland, went into liquidation in the middle of 2017.

Gene Farrelly, director of United Project Partners Pty Ltd.

It owed $13 million to businesses and people who had invested their superannuation in the United Group.

Six people, including United director Gene Farrelly, have been summoned to court this week to shed light on the company's collapse.

Lawyer Gavin Handran questioned former United employee Douglas Channells whether Westpac was being misled about building contracts being inflated to secure more money.

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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.