Building giant’s Qld projects in doubt following liquidation

The future of building giant Lanskey Constructions’ Queensland operations is in doubt after the $120m business put its local subsidiary into liquidation this week.

The future of building giant Lanskey Constructions’ Queensland operations is in doubt after the $120m business put its local subsidiary into liquidation this week.

The Lanskey group has extensive operations building commercial projects across Australia and New Zealand but according to the Queensland Building and Construction Commission failure to meet financial requirements means it has no current operating licence in Queensland.

Lanskey Constructions Pty Ltd cancelled its licence in August last year at its own request and transferred it to a subsidiary Lanskey Constructions Qld.

Lanskey Constructions Qld is now being liquidated with the QBCC suspending its licence last week after it failed to meet “Minimum Financial Requirements.”

It is understood Lanskey has several projects in Queensland currently underway including a childcare centre and service station.

Comment has been sought from company founder Paul Lanskey, a racing identity who is part owner of Melbourne Cup champion Vow and Declare. Mr Lanskey is a director of both firms.

Ben Campbell and John Park, of FTI Consulting, were appointed to wind up Lanskey Constructions Qld on Monday but they said the liquidation did not impact other entities in the Lanskey Construction Group. According to the Victorian Building Authority, Lanskey Constructions Pty Ltd still has an unlimited commercial building licence in that state.

Blake Shinn riding Vow and Declare during the Breakfast at Flemington this week.

“The liquidators will seek to manage the affairs of the company in a manner which maximises the outcome for its creditors,” FTI said in a statement. “There are currently no staff directly employed by the company. Creditors of Lanskey Constructions Qld will be updated in due course.”

Subcontractors say they are now bracing for the fallout from the liquidation of Lanskey Constructions Qld, with Subbies United group accusing the company of having a track record of poor treatment of subcontractors over the years, including non payment. Mr Lanskey did not respond to a request for comment on the claims.

Subbies United said one subcontractor had recently complained that he had not been paid since May on a $500,000 contract and that he had been “expected to continue to throw good money after bad month after month.”

According to the latest financial report lodged with ASIC, the parent company Lanskey Constructions Pty Ltd made loss of $218,000 on revenue of $139.7m in the 12 months to the end of June last year. That compared to a profit of $177,000 on revenue of $134.9m the previous year. The group employs 111 people.

Lanskey, founded in 1986 by Paul Lanskey and Ross Williams, is involved in large commercial projects across Australasia with offices in Brisbane, Sydney, Melbourne, Perth and Auckland. Lanskey Construction Qld held a category 5 licence from the Queensland Building and Construction Commission (QBCC) with allowable annual turnover of $120m.

Paul Lanskey pic part owner of Vow and Declare winner Melbourne Cup