PHOTO: DAVID WHITE/STUFF – Ebert owes subbies $9.3m in retentions, but only $4.5m is covered by the new act.
Ebert’s receiver has applied to the High Court for directions on how to get sub-contractors some of their money back.
Changes to the Construction Contracts Act came in last April to keep retention payments safe from being paid out to other creditors in the event of a construction company’s collapse.
Retentions are a portion of a sub-contractor’s payment that construction companies hold back for a time to guarantee faulty workmanship is fixed.
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