{"id":40126,"date":"2022-08-31T08:00:03","date_gmt":"2022-08-30T20:00:03","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=40126"},"modified":"2022-08-31T08:00:03","modified_gmt":"2022-08-30T20:00:03","slug":"liquidators-pursue-homeowners-of-collapsed-builder-owing-23m","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/liquidators-pursue-homeowners-of-collapsed-builder-owing-23m\/","title":{"rendered":"Liquidators pursue homeowners of collapsed builder owing $23m"},"content":{"rendered":"

PHOTO: Australian building companies ‘falling over like flies’. FILE<\/strong><\/p>\n

Homeowners from a building company that collapsed last month owing $23 million have been dealt another devastating blow.<\/p>\n

\"Norris<\/a><\/div>\n
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Collapsed building company owes staggering debt<\/a><\/h2>\n<\/header>\n<\/div>\n

In a creditor\u2019s report released last week and obtained by news.com.au, the appointed liquidators have revealed they are pursuing customers for money.<\/p>\n

That\u2019s despite most homeowners having to fork out hundreds of thousands more to build their homes as costs have skyrocketed and state insurance only covers 20 per cent of the contract price after the company\u2019s demise.<\/p>\n

\"Langford<\/a><\/div>\n
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\u2018TOTALLY DEVASTATED\u2019: All staff fired as building company collapses<\/a><\/h2>\n<\/header>\n<\/div>\n

In early July, Victorian residential builder Brurob Nominees Pty Ltd, also known as Langford Jones Homes, and its sister company Woodside Building Services Pty Ltd,\u00a0went into liquidation<\/a>.<\/p>\n

The builder\u2019s failure impacted 66 homes and more than 400 creditors. While initial estimates put the debt at $10 million, the latest report shows that the amount owed has snowballed to $23 million.<\/p>\n

That same report found that 23 homeowners \u2014 a third of those affected \u2014 actually owe Langford Jones Homes money as they never paid for the latest instalment on their homes.<\/p>\n

Eight homeowners have already been contacted and letters will soon be sent out to the others demanding payment.<\/p>\n

Donna Taylor, a postwoman in Phillip Island south of Melbourne, expects to receive one of those letters even though she has been left $180,000 out of pocket from the whole ordeal.<\/p>\n

\u201cThey\u2019re probably going to send me the bill for a retaining wall, I\u2019ll tell them to get f**ked,\u201d she told news.com.au.<\/p>\n

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\"Donna<\/div>\n

Donna Taylor has lost $180,000 from the collapse of her builder.<\/strong><\/em><\/div>\n

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\"Now<\/div>\n

Now she thinks liquidators are coming after her for more money.<\/strong><\/em><\/div>\n

Ms Taylor, 53, signed with Langford Jones in 2020 and only has a frame after a year and a half on her $365,000 build.<\/p>\n

She forked out $155,000 in progress payments before Langford Jones Homes went bust.<\/p>\n

Now the aspiring homeowner is worried her frame needs to be entirely torn down as it has been uncovered for four months during heavy rain and some of the wood has turned black.<\/p>\n

\"Waterford<\/a><\/div>\n
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BUILDING CRISIS: Another building company in liquidation<\/a><\/h2>\n<\/header>\n<\/div>\n

Unfortunately, Victoria\u2019s Domestic Building Insurance only pays back up to 20 per cent of the building contract price.<\/p>\n

\u201cThe builder\u2019s insurance will only cover me for $70,000,\u201d Ms Taylor said.<\/p>\n

\u201cI\u2019ve already got a builder\u2019s quote (and I’m) going to be $180,000 out of pocket.<\/p>\n

\u201cI had $210,000 left to complete the house. To complete it now is costing something like $460,000.\u201d<\/p>\n

\"Jada<\/a><\/div>\n
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Another one bites the DUST: Major Sydney building firm collapses<\/a><\/h2>\n<\/header>\n<\/div>\n

When it comes to the 23 homeowners being personally pursued by liquidators, Ms Taylor said she had a \u201cfeeling that I might be one of them\u201d.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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