With a number of building and construction companies facing solvency issues due to supply shortages and increasing prices, the Victorian government has acknowledged the tough position this may put property owners into.
They advised that builders who do go into voluntary administration but not liquidation may continue to provide services to clients.
The government recommends contact[ing] the administrators for further advice on whether they are likely to wind the business up or allow it to continue to trade.
It went on to note that the builder or administrators may ask customers to agree to a contract price increase, and possibly other changes to contract terms, for their build to be completed, which is permissible and may be requested…
Read the full article at: https://www.smartpropertyinvestment.com.au/property-development/25114-what-can-you-do-if-your-builder-goes-into-voluntary-administration