By Violet Li
Affected families by the collapse of the Victorian builder Montego Homes are reeling from losing their deposits and their dream houses in the Casey South region.
South Melbourne builder Montego Homes went into voluntary administration in January, with Sam Kaso and Shaun Matthews of insolvency service Cor Cordis appointed as administrators to assess the best way to restructure or recapitalise the business.
Key initial findings have shown that 63 homeowners are affected by the company not having appropriate insurance in place for deposit holders.
According to the Victorian Building Authority, when a building contract is worth more than $16,000, builders are required to purchase Domestic Building Insurance (DBI) for their cli…
Read the full article at: https://dandenong.starcommunity.com.au/news/2024-02-07/locals-impacted-after-builder-goes-into-voluntary-administration/