Utopian Residential Pty Ltd: Victorian constructing firm collapses owing $3.2m to tradies and the Tax Workplace
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Utopian Residential Pty Ltd: Victorian constructing firm collapses owing $3.2m to tradies and the Tax Workplace
- Utopian Residential Pty Ltd has gone bust
- Owes $3.2m, together with $550,000 to ATO
- Have you learnt extra? Electronic mail suggestions@dailymail.com
One other Australian constructing firm has gone bust, owing hundreds of thousands to trades contractors and the tax workplace.
Utopian Residential Pty Ltd was wound up and went into voluntary receivership on June 30.
The Melbourne-based firm owes $3.207m to collectors, together with $550,000 to the Australian Tax Workplace, in keeping with the collectors report.
Trades contractors and constructing suppliers had been additionally on the prolonged listing of collectors.
Paul Langdon and Ian Grant from Vince & Associates have been appointed as liquidators.
Utopian Residential Pty Ltd is the most recent constructing firm to break down. Pictured is considered one of their accomplished initiatives
Utopian Residential Pty Ltd administrators Jarrod Williams and John Hynes had over 25 years of expertise within the constructing trade, in keeping with the corporate web site, which stays on-line.
‘Working for each the big ‘family identify’ in addition to smaller, impartial builders they skilled first-hand the problems and frustrations that purchasers confronted through the development of their residence,’ the web site states.
‘In establishing Utopian Constructing Group, Jarrod and John had been decided to supply a superior stage of hands-on service that might separate them from their opponents.
‘By combining courteous, pleasant service with top quality development and aggressive pricing, Jarrod and John are quickly incomes a repute for Utopian Properties as an organization that’s reliable, dependable and concerned with their purchasers.’
Its demise comes on the identical days information of the collapse of one other Melbourne development firm emerged.
Utopian Residential Pty Ltd owed $3.2m to collectors, together with trades contractors (inventory picture)
Kleev Properties Pty Ltd went into liquidation earlier this month with $3.3 million in money owed.
It owed hundreds of thousands to 162 unsecured collectors as of July 7, in keeping with paperwork from the Australia Securities and Investments Fee.
Travis Pullen of insolvency agency B&T Advisory has been appointed liquidator.
Utopian Residential and Kleev Properties are amongst dozens of corporations from the development sector to go bust in latest months as constructing materials prices soar and inflation takes its toll.
The administrators of Utopian Residential Pty Ltd (challenge pictured) boasted having greater than 25 years expertise within the constructing trade earlier than the corporate went bust
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