Failed Canberra building company ACT Homes has unpaid debts of almost $1.5 million owed to more than 100 tradesmen and home buyers across the capital.
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The Fyshwick business left a trail of outstanding payments and unfinished homes when it went into voluntary liquidation on May 7, and prompted the territory's peak building and construction organisation to warn it would not be the last as the industry faces difficult times.
ACT Homes liquidator Cliff Sanderson said initial investigations had revealed 112 creditors were owed about $1.47 million, but those figures continued to climb.
Frustrated home and business owners will gather for the first creditors' meeting in Canberra on Tuesday, but few hold hopes of seeing their money again.
''It is possible that there is a small amount of equity in various vehicle and equipment leases but it will be immaterial to the overall liquidation,'' Mr Sanderson said.
''We have not become aware of any undisclosed assets at this stage.''
A report would be given to the Australian Securities and Investments Commission following the meeting, Mr Sanderson said.
The business's landline phone has been cut off, while calls to a mobile phone number go to a voice message from ACT Homes principal David Geelan.
One of the company's largest outstanding debts is to Monaro Windows owner Henry Posch, who is owed $80,000 for work he completed on two homes at Red Hill.
''It's a huge impact on our ability to pay our debts,'' Mr Posch said.
''You contemplate whether it's worth going on.''
Mr Posch said he would keep a tighter rein on unpaid debts in the future, but called for greater accountability for building companies.
''A lot of these builders just use you as a bank.
''I would like to see some help from the government to help protect small companies and subcontractors who get caught in these situations.''
Plumber Gary Blewitt still hasn't been paid more than $50,000 for several jobs he completed for ACT Homes last year.
''I wouldn't work for them this year because I hadn't been paid.''
Mr Blewitt, who owns Gary Blewitt Plumbing, said he knew of homeowners who weren't able to live in their new houses due to the unpaid debts.
A spokeswoman for another creditor, who did not want to be named, said their business had been left tens of thousands of dollars out of pocket.
''We've been impacted quite significantly.
''We don't have a huge amount of hope of getting it back because it's a no-asset liquidation.''
Master Builders Association of the ACT executive director Jerry Howard said the business's collapse ''probably won't be the last''.
''We are facing some pretty challenging times for the construction industry,'' he said.
''There would be builders we'd be keeping a very close eye on.''
Mr Howard said companies that could not keep up financially had a ''cascade effect'' on the industry and buyers.
The organisation had arranged for builders to complete work ACT Homes had left unfinished.
ACT Homes is the second Canberra builder to fold this year, following the collapse of Sublime Developments.
That company went into administration in February, with debts of up to $2.5 million to home buyers, tradesmen and suppliers around the capital.