@kitsa1983 @Elisabeth_Moss9@9NewsMelb And you access the CEO's assets. That's a job for ASIC. I can't recall anyone ever being held to account in other collapses. Their money is usually well hidden .
@kitsa1983 @Elisabeth_Moss9@9NewsMelb The builder took the mandated insurance. It's the only one they can take. But it's not designed to handle the situation in 2023. The govt needs to look into it don't you think? Or do we just keep underinsuring victims of liquidations.
@Elisabeth_Moss9@9NewsMelb I'm one of those. it all sounds easy. People facing a 50k or more to finish their home, after the insurance. Their options. 1. Find the money. 2. Go bankrupt, sell the frame for a huge loss to someone who might be able to finish it, say a builder.
@myGoldCoast That would be about 50 private houses and a couple 100s of developer townhouses purchased off the plan. Not really a Lifeline for the 1200 or so private house builders.
@propertynoisenz That would be about 50 private houses and a couple 100s of developer townhouses purchased off the plan. Not really a Lifeline for the 1200 or so private house builders.