Dozens of families are in limbo or out of pocket after a Melbourne-based home-builder collapsed.
Bentley Homes slid into liquidation on Friday, catapulting customers and creditors into an anxious wait for news.
Crouch Amirbeaggi Insolvency Services liquidator Timothy Holden on Monday revealed the company owed an estimated $1.6 million to trade and related-party creditors.
Substantial construction had started at about 50 sites by the time Bentley collapsed, and about 26 additional clients had paid deposits to the home builder.
An estimated further 34 homeowners had paid Bentley an initial tender fee of between $2000 and $9000, but they had not signed a contract, Mr Holden said.
“The company is insolvent and does not have any funds availa…
Read the full article at: https://au.sports.yahoo.com/dozens-families-lose-home-builders-072615461.html