Skyfield Homes director Dazhi Wang could face three-year ban as voluntary administration unfolds
The director of a Gold Coast builder, in administration with 38 unfinished home sites and at least $1.5m debts, faces exclusion from the industry for three years. Here’s why
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The director of a Gold Coast builder, in administration with 38 unfinished home sites and at least $1.5m debts, is facing exclusion from the industry for three years.
Category three builder Skyfield Homes, which has construction sites in Nerang, Helensvale, Hope Island and Brisbane, entered voluntary administration a week ago.
Sites across the Gold Coast fell silent, and the company’s website and social media was taken down, after administrator Michael Caspaney of Menzies Advisory was appointed.
Skyfield subcontractors have questioned why staff asked them to complete subcontractor forms for related company Focus Living in the weeks before Skyfield went into administration.
Focus and Skyfield are both directed by Dazhi Wang, 39, whose registered address is in Robina. Skyfield is also a shareholder of Focus Living.
The Queensland Building and Construction Commission said it was aware of the external administration.
“When the QBCC identifies a potential exclusion event, such as the appointment of administrators in relation to any QBCC-licensed company, the QBCC is required by law to provide the director or directors of the company 28 days to submit any potential response or challenge to any proposed exclusion,” the regulator said in a statement.
“The licence remains active and visible on the QBCC website during the 28-day period.
“A person who is subject to exclusion action by the QBCC will have their QBCC contractor, nominee supervisor or site supervisor licence cancelled and they will be unable to
reapply for another licence until their exclusion period ends.”
For a first insolvency event the period of exclusion is three years and for a subsequent event, a lifetime ban will be imposed by the QBCC.
Russ Stephens, co-founder of The Association of Professional Builders, said many builders needed “urgent financial education”.
“It’s a bit like an iceberg. You know the bit you can see at the top, it’s nothing like the mess underneath,” he said.
“This is what we see when building companies go into liquidation.
“You know, there might be some people chasing unpaid bills of like tens of thousands of dollars, but when they get placed into administration, the hole is millions of dollars.”
The QBCC urged homeowners who have contracted with Skyfield Homes for residential building work to contact the regulator to discuss their options for completing it under the Home Warranty Insurance Scheme.
Anyone who believes they are owed money by Skyfield Homes should contact Mr Caspaney.
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