Whether you are looking to build a house or a commercial project, you need an experienced Sunshine Coast engineer who can ensure that you get the results you want. Having the right engineer on your team is essential if you want to be sure that the job is done right, on time and within budget.
Walton Construction's relationship with Peloton Builders Pty Ltd
Despite a lack of details, it is believed the Mawson Group has been advising Walton (Qld) on its business. As the company went into administration, it transferred eight contracts worth over $20 million to Peloton. The group is also involved in transferring projects through asset sale agreements.
The Australian Securities and Investments Commission (ASIC) has launched an investigation into the transactions. It believes the deal was not disclosed to creditors at the time. ASIC is planning to hold a hearing on January 20 in Melbourne.
The court has also found there was a lack of documentation establishing the benefits of the transaction. In addition, the court noted the assignment deed was intended to make QHT a secured creditor.
In addition to the financial self-reporting regime introduced by the LNP Government, contractors have been able to hide their financial health from regulators. Some of the high-profile collapses in the construction industry since 2013 have prompted the Subcontractors Alliance to call for a thorough investigation. The group is submitting a detailed submission to the royal commission.
The Subcontractors Alliance has also questioned ASIC's ineffectiveness. Les Williams, a Sunshine Coast civil contractor and small business subcontractor, says the company is inept as a regulator. Earlier this year, ASIC attempted to oust the company's liquidator.
Subcontractors left unpaid for nearly $4 million on the Nambour Coles project
Among the subbies left out of pocket is a Sunshine Coast engineer who was paid only $700,000 in 2013 for his work on the Nambour Coles project. The company owed the engineer nearly $4 million. He was not paid the full amount for two months of labour and materials.
The Subcontractors Alliance is pushing for national security of payment legislation. It has also taken aim at the behaviour of the National Australia Bank.
Queensland State Government is pursuing reforms to the building and construction industry payments act. The Walton subcontractors' group is one of several interest parties that will meet with Mr. Wellington and his fellow Sunshine Coast MPs on the topic.
The Subcontractors' Alliance has also submitted a comprehensive submission to the Royal Commission into the State Building Industry. The Alliance is led by Sunshine Coast civil engineer Les Williams. He is also head of the WK Civil collective. The group is the apex of a larger campaign to improve payment processes in the construction sector.
The Subcontractors' group is advocating for better payment practices for subcontractors in Queensland. It also wants to know how Coles allowed this to happen. It is aiming to get access to the full $1 million owed by Coles to Waltons.