Beleaguered melbourne based home builder GJC Builders which was subject to numerous legal cases with the Victorian construction regulator has failed and owes a range of creditors more than half a million dollars.
GJC Builders, based in the south-eastern Melbourne suburb of Cranbourne was placed into liquidation in late July, with ASIC documents showing the company owed an eye-watering $514,994 in debts.
The Cranbourne West company, which was founded in 2008, was subject to a winding-up order in the Supreme Court of Victoria after shareholder Sam Painting Group commenced legal proceedings against the firm in June, 2024.
A winding-up order is a court notice that directs a business to cease trading and sell its assets to pay off its debts.
If the debt is found to be genuine and the company is incapable of meeting its obligations, the business is typically forced into liquidation by the court.
The Victorian Building and Plumbing Commission, formerly known as the Victorian Building Authority, also levelled sanctions against GJC Builders last year for neglecting to obey a dispute resolution order levied by Domestic Building Dispute Resolutions Victoria.
The building firm was subsequently fined $5,000 in August 2024 and was barred from…
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