Newsflash……..May 25, 2012…….RECOUP Clients the first to be paid as the Reed Constructions Australia Pty Ltd saga continues !!

This week two of our clients received New South Wales Government cheques direct from the Roads & Maritime Services as full payment for the successful claims RECOUP brought against Reed in the last few months.

And we haven’t finished with Reed or the NSW Government yet !

We are making fast progress with more claims under the Security Of Payments Act for other clients of ours that are owed money by Reed.

This week has definitely shown WE ARE No 1 FOR CONSTRUCTION DEBT RECOVERY !

RECOUP are Australia’s Security of Payments Act Experts !

If you are owed money by Reed or anyone for that matter DO NOT DELAY contact us immediately and we will serve a Payment Claim on Reed the same day and get you on the way to being paid quickly.

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I attended the St Hilliers Construction (in Administration) Pty Ltd Creditors Meeting this morning and experienced firsthand the disappointment of so many Subcontractors who are and will be affected by more rough treatment from the NSW State Government.

St Hilliers are endeavouring to trade out of their financial difficulties but have had the rug pulled from under them by the NSW Government. Only a matter of weeks ago the NSW Govt awarded St Hilliers 13 Housing Projects to complete – this was great for the subcontractors involved.

A clown named Greg Pearce, the NSW Minister for Finance & Services, was the person responsible for this ridiculous decision.

This decision only serves to disadvantage everyone – especially Subcontractors.

Barry O’Farrell should sack Greg Pearce now and re-instate St Hilliers as the Contractor for these works immediately.

Greg Pearce’s continued bungling of the running of his own department and his negative, destructive approach to the Reed debacle is costing Construction Industry Subcontractors dearly – subbies, small mums & dads businesses are only just hanging in there while Greg Pearce fails to get the money that is rightfully due to them quickly enough.

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Our industry, the single largest industry in Australia, 4 times bigger than the mining industry needs more reform to the Security Of Payments Act to protect Subcontractors payments and move is afoot to make this happen sooner rather than later – hopefully the Government the people have elected to serve them will support the necessary reforms and bring them to fruition without delay.

Tonight at 7.30, on ABC1 TV, Journalist Quentin Dempster exposes the harsh treatment Subcontractors are suffering in our industry – not to be missed TV !!

Yours faithfully Glenn Bower, Managing Director of RECOUP Debt Recovery Pty Ltd

Phone: 1300 732 687

www.recoup.com.au

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