CREDITORS for the collapsed building company, Linoc Construction, are owed more than $4 million, exclusive documents have revealed.
Earlier this month Star reported that the company, formerly trading as Nicol Building Services, had gone into liquidation, leaving subcontractors throughout Wyndham and the western suburbs without payment for work they had already done.
Documents given to subcontractors by the company’s liquidators, SV Partners, show that 401 known creditors are owed a total of $4,074,682.36.
The Australian Taxation Office is listed as being owed more than $700,000 while ANZ Australia is owed $118,000.
Other documents also show that SV Partners held conversations with Linoc Construction Director Brett Nicol and the company’s accountant as far back as February 2012.
Deanna and Adam Finlow, owners of Sharp Plumbing and Drainage, said they had been forced to sell their house and car after Linoc Construction failed to pay them about $15,000.
The Wyndham Vale couple were helping to build the new amenities building at the Williamstown Cricket Club and said they were told just five days before Christmas that Linoc Construction had gone into liquidation and they would not be getting paid.
“I was angry. Very angry,” Ms Finlow said.
“We were pushed so hard by Linoc to get that job finished and then a few days later we gave them the invoice and they said they were shutting their doors.”
As well as not receiving payment for the work they did, the young couple, who have a one-year-old son, said their suppliers had put their accounts on hold, meaning they could not get materials for new jobs.
“It was a really stressful Christmas for us. Because the money didn’t come through we couldn’t pay the bills or buy presents,” Ms Finlow said.
“We’ve come to terms with the fact that we probably won’t get the money but we just don’t want to get a bad credit rating because of someone else’s stuff up.”
