Suppliers fuming at cash losses after building firm liquidation
Angry Cairns suppliers have been left out of pocket to the tune of almost $1m by the liquidation of a major Far North construction firm.
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ANGRY Cairns suppliers have left out of pocket to the tune of almost $1m by the liquidation of a major Far North construction firm.
Scores of local creditors including plumbing, electrical, transport, scaffolding and hire companies are scrambling to claim a combined sum of $784,988 at the collapse of Heartland Building.
Heartland Building Pty Ltd formerly trading as Cairns and Cape Construction and Gulf and Cape Construction offered custom home builds, renovation work and commercial builds between Airlie Beach, Mount Isa and Cape York.
Documents obtained by the Cairns Post reveal 45 Far North creditors of Heartland are owed money.
The company was voluntarily wound up on May 13.
Revive Financial were appointed as liquidators on the same day and in correspondence with a lengthy list of creditors outlined information on rights of companies owned money. According to liquidator documents Heartland Building has a total asset base estimated to be $326,411.
Plant machinery and stock was included in the estimate.
An angry unsecured creditor owed more than $10,000, asked not to be named, but said he felt it was unlikely his firm would have outstanding cash returned.
“I doubt very much I will see any money. I have called the liquidator three times and I have not got an answer back,” he said.
The Queensland Building and Construction Commission cancelled the company’s building licence and a winding up process followed.
According to QBCC records Heartland Building director Ty Gregory Jones had his low rise builder’s licence suspended in March 2022 for a failure to satisfy financial requirements and the license was ultimately cancelled for the same reason on April 28.
During the 2021/22 Financial Year Heartland Building logged 15 jobs with the QBCC worth a total of $482,194.
Up to half a dozen creditors contacted by the Cairns Post, though reluctant to speak on the record, told of frustration at an inability to get invoices paid and expressed anger at flow-on impacts to their business operations.
Among the Cairns companies owed the most by the embattled building firm was Southside Electrical ($42,212), Top Skips ($29,055) and Fullerton’s Plumbing Manufacture ($17,562), Global Hire ($6094), Stratford Painting Contractors ($5,679), Sureline Plastering ($7,795) and EK Design Kitchens ($10,500).
Heartland Building director Ty Jones was contacted to comment.
Originally published as Suppliers fuming at cash losses after building firm liquidation
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