WebBuilders in Victoria must take out domestic building insurance, also known as builder’s warranty insurance, for work valued at more than $16,000. This insurance provides cover … WebApr 3, 2024 · It covers the homeowner against the costs associated with transitioning to a new builder in the case their current builder becomes bankrupt. As a homeowner, the …
Builder Bankrupties Impact Subcontractors, Suppliers, Home …
WebMar 31, 2024 · One of Australia’s largest home builders Porter Davis has collapsed and construction firm Lloyd Group has gone into voluntary administration in a hit to the sector. WebJul 10, 2024 · In the event of an insolvency of the builder, the principal may have a claim against the DBI. As soon as possible, the principal should seek advice on the merits of making a claim on a DBI policy (or policies). The claim should be submitted with all due expedition because strict limitations apply under policy wording. how to divide by log on a calculator
Major home builder Porter Davis collapses leaving 1700 projects in limb…
WebJun 17, 2024 · Customers and creditors are concerned a Victorian construction company might be about to collapse after it racked up millions in debt and building works have … WebMar 31, 2024 · More than 600 employees across both companies have been affected Construction has been suspended on all Porter Davis' projects, with 1,700 homes affected across Victoria and Queensland. The construction company has about 470 employees and was forecasting revenue of $555 million in the 2024 financial year. how to divide by number of entries in excel