Heinrich Constructions changes name to Starcrest Construction, in receivership amid multiple debts

A national construction giant has taken the extraordinary step of lodging security interests in valuable racehorses amid a high-stakes debt row that’s tipped two major companies into receivership.

A national construction giant has taken the extraordinary step of lodging security interests in valuable racehorses amid a high-stakes debt row that’s tipped two major companies into receivership.

Formwork group Heinrich Constructions changed its name to Starcrest Construction on February 20, the day before its lender, Kickstart Equity, appointed receivers.

Meanwhile, tier-one builder Multiplex have placed Starcrest’s holding company into receivership, registering security interests over that company’s assets - specifically racehorses.

Heinrich Group companies have worked on some of the state’s biggest projects including the $1.4bn Jewel development, Cross River Rail and Queen’s Wharf in Brisbane.

They also own and train some of the country’s most valuable thoroughbreds, owning more than 30 animals in its Heinrich Bloodstock stable.

Five related companies have slipped into liquidation in the past six months with debts of more than $30m.

Starcrest’s sole director, racing identity Gerhard “Hoss” Heinrich, was banned from building in Queensland until August 2025 after another of his companies, Heinrich Formwork, was wound up by the tax office.

A response from Mr Heinrich, via his lawyer James Conomos, described the receiverships as “a private matter”.

“That said, it is intended for the secured creditor to be paid shortly so that the receiver’s appointment ends,” he said.

Mr Conomos declined to reveal what liabilities Heinrich owed to the secured creditors or the value of the racehorses being used as security, saying “these are private matters just like any other person’s debts are private”.

He declined to say whether or not the companies were solvent.

“This is a legal question and a matter for the Company,” he said.

The Gold Coast Bulletin has contacted Multiplex for comment.

Heinrich Constructions.

As well as his companies’ troubles, Mr Heinrich was sued personally by the tax office, which claimed it was owed $9.84m in unpaid tax by Heinrich Formwork.

He is defending the case.

New Heinrich companies have been formed in the past six months, under the directorship of Mr Heinrich’s wife, Gillian Heinrich - one of Queensland’s most successful racehorse trainers.

One of the new companies, Heinrich Constructions Australia, has a QBCC licence for up to $30m maximum revenue.

Mr Conomos said the newly-licensed company was “not trading” and Mr Heinrich was “not a director or otherwise employed by or has any influence” in it.

The couple’s daughter Tayla Heinrich, 27, is a former director of Starcrest and current director of Heinrich Constructions Queensland, which went into liquidation owing more than $3m in September last year.

Tayla Heinrich is also sole director of Starcrest’s holding company, G & H Holdings, to which Multiplex appointed receivers on February 23.

Heinrich Constructions worked on Queen’s Wharf in Brisbane.

The receivership applies to all the holding company’s assets, including those transferred from Starcrest, and specifically “all racehorses acquired from Heinrich Constructions”.

Lender Kickstart, which is directed by Brisbane insolvency accountant William Robson and businessman Ben Whitehouse, registered security interests over Starcrest’s assets in September.

Mr Robson declined to comment.

Starcrest is also battling to set aside a debt claim from construction supplier Leviat in a case due to return to Brisbane Supreme Court in May.

The Gold Coast Bulletin has contacted Bill Karageozis and Nick Keramos of McLeod’s Accounting - the appointed receivers of Starcrest - and Mark Holland of McGrath Nicol - receiver of G & H Consulting - for comment.

Five companies linked to Heinrich Constructions have gone into liquidation in the past 18 months, owing at least $30m of dollars to unsecured creditors – mostly state and federal taxes.

According to the latest liquidator’s report, unsecured Heinrich Formwork creditors are owed almost $22m.

Jockey Sheriden Tomlinson rode the Gillian Heinrich-trained Prime Asset to victory in the RATINGS BAND 0 - 58 Handicap (1200m) at the Gold Coast Turf Club on Saturday, June 18, 2022. Picture: Greg Irvine

Another company directed by Mr Heinrich, Heinrich Formwork Gold Coast, went into liquidation last October after a court-ordered tax-office wind-up.

That company – described by liquidator Derrick Vickers of PwC as a “labour hire” entity whose only client was Heinrich Constructions – owes $4.2m to unsecured creditors and another $228,000 in superannuation.

Mr Vickers’ report said Heinrich Formwork Gold Coast had likely been trading insolvent since 2021.

Two more companies, Heiko Constructions and Highform Solutions were ordered into liquidation by the Federal Court last year, following wind-up action by the tax office.

The companies are directed by Helga Bennett, the sister of Mr Heinrich, and were at the centre of a Supreme Court case last year, which was ultimately dismissed.