Pressure is mounting on the Victorian government to launch a review of the states domestic building insurance regime amid revelations that many aspiring homeowners could lose their deposits if more construction companies become insolvent.
Victorian Premier Daniel Andrews announced on Thursday that the state government would pay out the deposits of 560 families who were building a home with collapsed builder Porter Davis.
They stood to suffer big losses because the company failed to buy the necessary insurance for these customers before going into liquidation on March 31.
Victorias Premier Daniel Andrews said the government would cover the deposits of 560 families building with collapsed home builder …
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