Liquidation of City Residence Pty Ltd
Following the liquidation of Perth builder City Residence Pty Ltd, Building and Energy is advising affected property owners to contact QBE to discuss a home indemnity insurance claim.
City Residence appointed liquidators yesterday (12 July 2023). Building and Energy understands the company was yet to complete 13 residential building projects.
Building and Energy Acting Executive Director Nabil Yazdani said people with contracts and home indemnity insurance policies with City Residence should contact QBE on 1300 790 723 to discuss arrangements.
“If a builder becomes insolvent, home indemnity insurance offers protection against lost deposits or incomplete or faulty building work,” Mr Yazdani said.
“Lodging a claim enables home owners to begin the process of engaging another registered builder to complete the work or to pursue other remedies they may be entitled to.”
Subcontractors affected by City Residence’s status should contact Peter Malone from CRS Insolvency Services, who has been appointed as the liquidator, via (02) 9779 3227 or email@example.com.
Recent law changes mean a history of insolvency can lead to exclusion from future registration as building service contractor. The Building Services Board now has powers to exclude individuals, partnerships and corporations from being granted registration as a building service contractor if an insolvency event has occurred and certain other circumstances apply. A corporation or partnership may also be declared an excluded contractor if an officer has been connected with an insolvency event.
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