Dozens of projects across Sydney are at an impasse as four construction companies linked to one sole trader go bust in a single day.Adroit Constructions, Maximus Builders, Maxim Builders and Maxus Builders went into liquidation on Tuesday.
High-profile liquidator Bruce Gleeson of Jones Partners Insolvency is currently overseeing the administration of the four businesses as 25 construction at “various stages of completion” have now been left with uncertain futures. In March 2023, both Maxus Builders and Maximus Builders were slapped with stop work orders by the Building Commission NSW under section 129 of the Home Building Act 1989.
Additionally, the drainage works and metal roofing were not “installed with the manufacturer’s specifications”. Almost 3,000 insolvency appointments were made with construction firms in the 2024 financial year, according to ASIC, with an increase from 2,213 in the previous financial year to 2,832.