Beyond the numbers with Grant Thornton: Listen now
The Liquidators appointed to 14 companies in the Porter Davis Homes Group (PDH Group) on Friday 31 March 2023 – Said Jahani, Matt Byrnes and Cameron Crichton of Grant Thornton Australia – have been working towards helping PDH customers explore options to see their homes completed either by:
a) Working in conjunction with staff, certifiers and homeowners to accelerate completion of homes capable of qualifying for occupation; or
b) Pursuing opportunities to sell parts of the business and secure assignment/ novation of existing contracts to replacement builders; or
c) For building contracts where the Liquidators are unable to identify a party willing to accept an assignment of the building contract, introduce replacement builders to homeowners so that they can discuss and negotiate a new building contract.
The Liquidators have identified over 250 homes that are expected to qualify for occupation certificates and are capable of contract completion given how close they are to being finished. These customers have been, or will be, contacted by PDH’s staff advising the next steps to progress their home to handover status.
The Liquidators at Grant Thornton are currently in discussion with over 20 builders that have offered assistance to complete homes for PDH customers.
Grant Thornton spokesperson said: “For those customers where PDH is unable to offer handover under the current contract, we expect to be in a position to introduce them to replacement builders within the coming week to discuss how their home build may be completed.”
While the Liquidators expect this may offer the most expedient path to completion of their homes, it is recommended that customers seek their own legal advice to ensure they do not inadvertently compromise their entitlement to insurance cover under VMIA or QBCC.
Grant Thornton spokesperson continued: “We appreciate this is a stressful time for all PDH stakeholders and we thank you for your continued patience while we work to find alternative options and possible solutions for customers.”
Further updates on the status of the above initiatives will be provided to customers next week. Creditors and customers can visit this link for more information.
Media enquiries please contact:
Mikala Spark
Senior Communications Manager
M +61 412 334 851
E mikala.spark@au.gt.com
Press release
Liquidators from Grant Thornton provide update for PDH Group customers regarding their homes
06 Apr 2023
The Liquidators appointed to 14 companies in the Porter Davis Homes Group (PDH Group) on Friday 31 March 2023 – Said Jahani, Matt Byrnes and Cameron Crichton of Grant Thornton Australia – have been working towards helping PDH customers explore options to see their homes completed either by:
a) Working in conjunction with staff, certifiers and homeowners to accelerate completion of homes capable of qualifying for occupation; or
b) Pursuing opportunities to sell parts of the business and secure assignment/ novation of existing contracts to replacement builders; or
c) For building contracts where the Liquidators are unable to identify a party willing to accept an assignment of the building contract, introduce replacement builders to homeowners so that they can discuss and negotiate a new building contract.
The Liquidators have identified over 250 homes that are expected to qualify for occupation certificates and are capable of contract completion given how close they are to being finished. These customers have been, or will be, contacted by PDH’s staff advising the next steps to progress their home to handover status.
The Liquidators at Grant Thornton are currently in discussion with over 20 builders that have offered assistance to complete homes for PDH customers.
Grant Thornton spokesperson said: “For those customers where PDH is unable to offer handover under the current contract, we expect to be in a position to introduce them to replacement builders within the coming week to discuss how their home build may be completed.”
While the Liquidators expect this may offer the most expedient path to completion of their homes, it is recommended that customers seek their own legal advice to ensure they do not inadvertently compromise their entitlement to insurance cover under VMIA or QBCC.
Grant Thornton spokesperson continued: “We appreciate this is a stressful time for all PDH stakeholders and we thank you for your continued patience while we work to find alternative options and possible solutions for customers.”
Further updates on the status of the above initiatives will be provided to customers next week. Creditors and customers can visit this link for more information.
Media enquiries please contact:
Mikala Spark
Senior Communications Manager
M +61 412 334 851
E mikala.spark@au.gt.com
Experts / Authors
Mikala Spark
Senior Communications Manager at Grant Thornton Australia
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