Homeowners, creditors and staff could be left out of pocket after building company Builton Group collapsed owing about $16 million and leaving about 110 residential projects unfinished.
Administrators from Cor Cordis, Dino Travaglini and Jeremy Nipps, delivered the distressing news to the media this morning, saying it was clear that Builton and its subsidiaries Platinum Homes, Aspireon Homes and Multi Living by Design, were unable to continue to trade.
Mr Travaglini said Builton had about 350 unsecured creditors, mostly sub-contractors, suppliers and other creditors, who were owed about $16 million.
We are in the process of reviewing all existing housing contracts to see how we can best assist the owners in the completion of their houses, h…
Read the full article at: https://thewest.com.au/business/commercial-property/building-commission-throws-book-at-builton-ng-b88364454z