A building firm that had been operating for over a decade collapsed following a drawn-out death.
The collapse of the company affected several projects.
On Wednesday, the Supreme Court of Victoria ordered the liquidation of Apex Homes Australia Pty Ltd.
The court noted that the company’s solvency requirements were met.
In late 2018, Aerolink Property Group, a Concreting business, applied for a winding up order against the building firm.
Five other creditors then joined the case after the company failed to pay its debts. Some of these include Bristol Roofing, ATC Co, Home & Industrial Soil, and the commissioner of state revenue.
Matthew Blum, a liquidator from BDO, was appointed as the liquidator of Apex Homes.
In November 2018, news.com.au reported that the company was on the verge of collapse due to the delays in its construction work.
At that time, the company had employed lawyers to fight the winding up application. However, in Wednesday’s hearing, no one from the company showed up.
Danny Didone, the lawyer of Aerolink Property Group, said that he had not heard from the company in the past six days.
He noted that it could take more than a day for a liquidation notice to be submitted to the corporate regulator.
Customers also reported that the company’s telephone line had been disconnected.
Some customers expressed relief that they finally have some sense of closure following the collapse of the company.
They said they were disappointed but relieved that their families can now move on. One homeowner said that the uncertainty surrounding the company had been a burden that they could no longer bear.
It’s bittersweet for me as it means the end of an era for many people. For the tradies who were left out in the cold, it’s even worse. According to a report by CreditorWatch, Apex Homes had four default notices since July. Although one of these was paid, the others were not.
Not to mention the ongoing legal battle, the company still has outstanding debts of around $160,000, $19,000, and $3,000. Some of the company’s employees told news.com.Au that it was trying to settle its debts. A spokesperson for Apex Homes said that the company had been struggling to pay its debts since it was founded three years ago.