Recently there have been numerous construction companies shutting down building sites and going into external control, such as administration or liquidation.
If you are a subcontractor or contractor that is owed money by a construction company, it is imperative to act quickly to secure progress payments owing.
One option is for subcontractors to serve a subcontractor’s charge to secure monies owing by a construction company under the Building Industry Fairness (Security of Payments) Act 2017.
Unfortunately, helping out a builder by accepting payment arrangements can have serious ramifications if the builder is later put into liquidation. In some instances, a liquidator might seek to have repaid anything received within the 6 month period prior to liquidation.
We can assist with all aspects of recovery of monies owing under the Building Industry Fairness (Security of Payments) Act 2017.
If you are owed money by a construction company, it is time to act now.
Justin Mathews is a registered Adjudicator for building claims in Queensland and the Northern Territory and specializes in building and construction law. You can contact him by email justinm@qbmlaw.com.au or 5574 0111.
