Businesses await news on debts owed by broke builder

PETER and Julie Hopley walked away from a creditors' meeting resigned to the fact they might not see a cent of the $65,000 owed to them by a broke Sunshine Coast builder.

The Hopleys, who own Coolum Engineering, were at the Maroochy RSL yesterday to hear the latest for those affected by the collapse of Peregian Beach-based builder Bush and Beach Homes.

They had fabricated steel house frames for the builder until they received a call from a company director in late July to say the company was going under.

Mr and Mrs Hopley were driving home from their son's university graduation when they heard the news.

They had been owed money for a few months.

"It's just disheartening," Mrs Hopley said.

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"You do a lot of stuff in good faith.

"It's probably a nightmare to think that you are not going to get paid."

Mr Hopley said the loss equated to them losing their wage from the business.

"If we hadn't had a good year we might have gone under.

"We've worked a year for nothing, basically."

He gained little from the creditors' meeting other than it would be a while before they knew whether or not they would be getting a dividend.

A report to creditors issued by liquidators Worrells earlier this month listed about 90 creditors, including Bush and Beach Homes directors Mark Cruse and Christopher Sly.

The company's liabilities totalled $1.849 million when money owed to employees, associated loans and estimated finance shortfalls were taken into account.

That figure included $704,239 owed to trade creditors.

Worrells Sunshine Coast liquidator Paul Nogueira expected an investigation into the collapse would take about two months.

"It is too early to make any comment on potential dividends at the moment," Mr Nogueira said.

He said there were six creditors at yesterday's meeting.

Bush and Beach Homes' directors were not there.

"We will look at what has happened to the assets of the company."

Meanwhile, Queensland Building and Construction Commission interim commissioner Kellie Lowe said six complaints in relation to Bush and Beach Homes were being investigated.

They included three for incomplete building work and three for defective work.

Topics:  bankrupt business sub-contractors

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