QBCC set to take action over the collapse of Bulkbuild

The state’s building industry regulator has revealed it will take action against a Brisbane building company, which collapsed owing creditors $1.6 million.

THE Queensland building industry regulator is preparing to take action against the director of a Brisbane-based builder which has collapsed owing creditor $1.6 million.

Bulkbuild Pty Ltd went into voluntary administration on Monday while its workers were still working on a West End apartment site.

The company is based in Mansfield and sole director and chairman Digen Hur has not returned phone calls.

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Brisbane-based builder Bulkbuild has gone into voluntary administration owing creditors about $1.6 million

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According to a Queensland Building and Construction Commission spokesman Bulkbuild’s licence was suspended on March 11 for its failure to meet minimum financial requirements.

He said following the QBCC’s action, legal and financial documentation subsequently provided by the company showed that it had taken steps to improve its financial position to the point where it met its financial requirements and the licence was reinstated on April 7.

“As the company has entered into administration, the QBCC has commenced actions which could see the company’s director and any other influential persons excluded from the building industry for three years,” the spokesman said.

Morton + Lee Insolvency director Leon Lee is handling the voluntary administration and will meet with creditors on Thursday.

An artist’s impression of the London Residences at West End

Ferro Property Group managing director Marco Ferro, who is developing the $27 million luxury seven-storey London Residences said the project should be completed by late August or early September.

“We didn’t get notified. We were blindsided when we were told about it last Thursday,” he said.

“At that point the site was at full speed. Our project manager monitors it every day and we had no signs that this was happening.

“But as soon as we found out we terminated the contract, secured the property and hired BulkBuild's key construction staff and admin.

“We’ve been building and developing for a long time and this isn’t our first rodeo.”

According to Bulkbuild’s website Mr Hur has been involved in a number of high-profile projects in NSW and Queensland worth up to $670 million.

Some of the projects in Queensland include the Jephson Hotel in Toowong, Aldi in the Fairfield Gardens shopping centre and the Yan Jian Australia HQ in the Brisbane CBD.

In NSW projects included were the Sydney ABC television building, UWS School of Medicine, Lidcome Juvenile Justice Centre, Sydney Park Village and the Zenix building in Erskinville.