Debtors lodge caveats on family house of Coast to Coast Homes director Sean Craven

He’s set to lose his company — but it might not stop there for the founder of failed builder Coast to Coast Homes.

This Port Hughes house is among 90 properties being built by failed builder Coast to Coast Homes. Picture: Tait Schmaal

• Major builder Coast to Coast Homes goes bust
• Customer tells of building nightmare with Coast to Coast
• Millions in insurance claims after builders go under

Suppliers of failed builder Coast to Coast Homes have targeted the family home of the company’s director in a bid to recoup their money.

Camden Park-based Total Concrete Retaining and Piling and Tradelink Plumbing Centres, who claim to be owed $8399 and $123,123 respectively, have lodged caveats on the Port Hughes house of Coast to Coast Homes director and founder Sean Craven and his partner Margaret Nelson.

Total Concrete’s caveat has been lodged in respect of work completed on April 2 this year.

Coast to Coast Homes, which had operations in Moonta, Adelaide and Port Lincoln, was placed in liquidation on May 24 owing 245 creditors $3.7 million and leaving 90 housing contracts unfinished.

NSW company Borg Manufacturing also lodged a caveat on the property last Wednesday through Sydney-based debt recovery firm Force Legal.

The firm, which manufactures panels and components for joinery industry, was not included on a creditors’ list lodged by Coast to Coast Homes liquidators with ASIC last week.

Mr Craven and his son Steven are directors of Regency Custom Cabinets, which they opened last June at the Croydon Park offices of Coast to Coast Homes.

A cornice which fell from the ceiling of Mel and David Brit’s Tranmere house built by Coast to Coast Homes. Picture: Mel Birt

A first creditors’ meeting for Coast to Coast Homes is scheduled for June 18.

One homeowner told The Advertiser of their horror build with the company, which has left their house littered with defects.

Consumer Business Services Commissioner Dini Soulio urged those concerned about the conduct of any building companies to ask for help.

He said Coast to Coast Homes had “not been on our radar” until “more recently”, when it emerged the company was in financial strife.

“If someone has concerns (about a builder) we encourage them to come forward to us, we can then assess whether directors are fit and proper to hold a licence and we can write to them and their accountants and request information as to their financial viability,” he said.

“Often when it (problems) come to our attention they are already on the verge (of closure).”

Mr Soulio met with the Housing Industry Association and Master Builders Association last week to investigate potential strengthening of builder’s licences.

The MBA has raised concerns that many of recent builder collapses have been due to companies’ lack of financial management.

“We will get back together in a week or so and look at the courses and qualifications to ensure the bar to entry is not too low,” Mr Soulio said.

HIA of SA director Stephen Knight said there needed to be detailed research on why builders were going broke.

“We are building the same number of homes that we did 30 years ago (there is) almost no opportunity for a business to grow other than increasing the share of the market, which means that somewhere another builder is missing out,” he said.

“Margins are inevitably driven lower as builders compete in a shrinking market.”