Builder Roberts Co faces new threat from bond claims
While the contractor’s Victorian operations are only part of its business, developer claims against guarantees could tear a big hole in the parent company.
Builder Roberts Co faces the prospect of security bond claims from clients on its Victorian projects that threaten the viability of the parent company and its original NSW operation.
While Roberts Co (VIC), put into administration late on Friday, is just one entity in the wider group, it accounts for a substantial share of the $109 million-worth of security bonds records show parent company Roberts Co Australia had issued at the end of last financial year.
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Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Michael is based in Melbourne. Connect with Michael on Twitter. Email Michael at mbleby@afr.com
