Descon Group’s QBCC licence has been reinstated despite wind-up and bankruptcy court actions

The Queensland Building and Construction Commission (QBCC) has given the green light to a besieged development group despite it being subject to wind-up action and its boss facing bankruptcy proceedings.

The Queensland Building and Construction Commission (QBCC) has given the green light to a besieged development group despite it being subject to wind-up action and its boss facing bankruptcy proceedings.

The building regulator lifted a suspension on Descon Group Australia’s $240m licence on Tuesday, less than a week after it was suspended for “failure to comply with an audit”.

It came three weeks after the company’s director Danny Isaac, a former bankrupt who is also known as Sami Adib, was banned from the industry for three years.

Danny Issac has been banned by the regulator.

While its licence is active, Descon remains an “excluded company”, since Mr Isaac was banned on December 8.

An excluded company has 28 days after written notice from the QBCC to remove any directors who are excluded individuals to avoid cancellation of the company’s licence.

A statement from the QBCC did not answer specific questions about Descon but said suspensions were “generally lifted when the circumstances which led to the suspension have been remedied”.

“A search of the QBCC public licence register shows that Descon Group Australia’s Director Danny Isaac became an excluded individual on 15 January 2024,” it said.

“When the QBCC identifies a potential exclusion event, the QBCC is required by law to provide the director or directors of a company 28 days to submit any potential response or challenge to any proposed exclusion.

“The licence remains active and visible on the QBCC website during the 28-day period or where the licensee applies to have the exclusion reviewed.”

15 Waverley St development in Southport nearing completion. Picture Glenn Hampson

Descon is currently building the stalled Waverley Residences high-rise in Southport, which is more than a year over schedule.

ASIC has told the liquidator of one of his companies that they had been “unable to locate and contact” Mr Isaac, who has been living in Dubai since October last year.

Descon Group Australia is facing wind-up action by a group of creditors, due to return to court on March 20.

Descon Qld is also facing wind-up action, brought in December by demolition group Demex, which has 12 supporting creditors, including the tax office.

It’s due back in court on March 14.

Bankruptcy proceedings against Mr Isaac are also set to return to court in April while at least four Descon and related Adcon companies are in liquidation.

Mr Isaac is defending the matters.

Originally published as Descon Group’s QBCC licence has been reinstated despite wind-up and bankruptcy court actions