It’s unclear when creditors owed millions of dollars following the collapse of builder Porter Davis will see their money or how much they’ll get. The company fell over in late March with about $147 million (US$97.67 million) in debt, leaving some 1700 homes in limbo in Victoria and Queensland. On June 28, around 20 people…
Victoria Government Will Not Bail Out Collapsed Builder Porter Davis
Victorian Premier Daniel Andrews is not bailing out collapsed major builder Porter Davis saying it is the “right call.” Porter Davis went into liquidation on March 31, affecting over 1,500 homes in Victoria and 200 in Queensland. An additional 779 signed contracts were in the pipeline but are yet to commence. “If the bank is…
Anxious Wait Ahead for Customers of Collapsed Builder
Would-be homeowners are angry and confused following a disastrous meeting with Porter Davis liquidators that left them with more questions than answers. Liquidator Grant Thornton on Tuesday hosted a webinar for Porter Davis customers, which immediately ran into trouble as the meeting hit capacity and many were blocked from attending. The home builder’s demise affects more than 1700 properties in Victoria…
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