Apartment owners face huge flammable cladding repair bill

Sunday 17 September 2017

Potentially tens-of-thousands apartment owners of apartments over three storeys high are facing costly remediation bills to replace flammable cladding because of a legal loophole that prevents neither dodgy builders nor insurers from being liable. From The AFR:

The loophole in a 2003 agreement between state governments and the industry could be used by developers and insurers to shift the potentially huge cost of replacing dangerous cladding on high-rise buildings onto owners or taxpayers.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.