A company linked to the builder of sydney’s troubled Opal Tower will be liquidated, with creditors seeking as much as $36 million for a series of buildings in the city plagued by faults.
The company, formerly named Icon Construction Australia (NSW) Pty Ltd, was placed in voluntary administration in November after slugging it out with homeowners in a series of defect ridden buildings the company built.
An administrator’s report by O’Brien Palmer was critical of directors of the failed unit, Nick Brown and Julian Doyle, for failing to provide information around insurance for the defect riddled Icon sites and dragging their feet on a proposed deed of company arrangement.
Mr Doyle worked at Icon until last August and Mr Brown handed over as chief executive last April.
“Correspondence was received from Mr Brown advising that a further revised DOCA proposal would be received that day. Such a proposal was not forthcoming,” the report said.
The homeowners are now left with trying to recover what little remains in the Icon corporate entity and making a claim against the insurers of the building.
But the liquidators report notes actually determining the nature of the insurance for the Icon buildings from brokers Marsh has…
