VIC Government targets ‘dodgy’ phoenixing builders

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In July, the Victorian Government launched a $600 million funding package to remove dangerous flammable cladding, the cost of which is to be split 50/50 by taxpayers and a new developer building levy.

Now, the Victorian Government has announced new laws to chase dodgy ‘phoenixing’ builders, architects and plumbers that go into liquidation in order to avoid being pursued by victims of shoddy work:

The move is a response to a crisis in building quality that is especially acute in the apartment sector, with the government noting too many units are being built by companies which fold “almost after the last nail is driven”…

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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.