July 29, 2024 By subbiesu Leave a Comment

Winding up order, liquidator appointed for Starcrest Construction

A liquidator has been appointed to wind up a national construction giant based on the Gold Coast, which changed its name the day before it went into receivership amid multiple debts.

Aaron Goodwin Follow less than 2 min read July 29, 2024 - 2:55PM Courier Mail

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A construction giant that has worked on some of Queensland’s biggest projects has been court appointed a liquidator to handle the company’s winding up.

Derrick Vickers of PWC Australia has been appointed the liquidator to handle the winding up of Starcrest Construction Pty Ltd/Formerly trading as Heinrich Constructions Pty Ltd.

The announcement comes after Heinrich Constructions changed its name to Starcrest Construction on February 20, 2024 - the day before its lender, Kickstart Equity, appointed receivers.

Tier-one builder Multiplex placed Starcrest’s holding company into receivership, registering security interests over that company’s assets - specifically racehorses.

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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.