Builder collapses owing creditors $1.6m
A BUILDING company which has worked on projects for some of Australia's leading organisations owes creditors about $1.6 million.
Morton + Lee Insolvency director Leon Lee said Brisbane-based Bulkbuild Pty Ltd went into voluntary administration on Monday.
"The only project they were working on was the London Residences at West End," he said.
"The developer secured the site last week."
According to Bulkbuild's website the privately-owned company is based in Mansfield in Brisbane's south and its work covered the industrial, commercial and residential sectors.
The only personnel listed on the website was chairman Digen Hur who did not return phone calls.
Mr Lee said the majority of creditors will be subcontractors.
"At this stage I'm aware of creditors owed about $1.6 million, some of which is related to their current project and some related to previous projects," he said.
"My first meeting of creditors will be held next Thursday. It's likely the company will be put into liquidation in June, at the second meeting."
According to Bulkbuild they have completed a number of projects in Sydney and southeast Queensland valued more than $670 million.
Some of the projects in Queensland include the Jephson Hotel in Toowong, Aldi in the Fairfield Gardens shopping centre and the Yan Jian Australia HQ in the Brisbane CBD.
In NSW the projects were the Sydney ABC television building, UWS School of Medicine, Lidcome Juvenile Justice Centre, Sydney Park Village and the Zenix building in Erskenville.
Originally published as Brisbane-based builder collapses owing $1.6m