Security of Payments Act Blog by Recoup

Call RECOUP Contractor debt Recovery on 1300 732 687 for help completing the ‘Informal Proof Of Debt’ form” and the ‘Appointment Of Proxy’ form.

These forms must be completed and returned to Ferrier Hodgson prior to the Reed Constructions Australia Pty Ltd Creditors Meeting which is 10AM Wednesday 27th June 2012.

If you appoint RECOUP Contractor Debt Recovery as your proxy also forward a copy to claims@recoup.com.au or fax to 02 9475 4169.

If you are attending the Reed Constructions Australia Pty Ltd Creditors Meeting which is 10AM Wednesday 27th June 2012 bring the forms with you and be sure to attach a copy of your unpaid invoices to the Informal Proof Of Debt Form

Building & Construction debt recovery shouldn’t get to this but persistence is the order of the day in this situation. Without the Security Of Payments Act law it would be a whole lot harder.

If you are a Creditor Of Reed Constructions Australia Pty Ltd but have not received the Circular from Ferrier Hodgson you will find a copy in our Security Of Payments Act Blog.

If you would like RECOUP Contractor Debt Recovery to represent you at the Creditors Meeting Next Wednesday 27th June 2012 complete the “Appointment Of Proxy Creditors Meeting Form” in the Ferrier Hodgson Circular and return to RECOUP immediately.

You also need to complete the “Informal Proof Of Debt Form” in the Ferrier Hodgson Circular (this can be found in our Security Of Payments Blog on this site) and return to Ferrier Hodgson immediately.

Please do not hesitate to call RECOUP Contractor Debt Recovery for assistance with understanding your rights as a Creditor and how best to exercise those rights.

Call RECOUP on 1300 732 687

RECOUP Contractor Debt Recovery are Security Of Payments Act Specialists for the building & construction industry Australia wide.

Circular to Creditors FH RCA 120619

For assistance with:

“Informal Proof Of Debt Form” (this must be completed and returned to Ferrier Hodgson immediately)

“Appointment Of Proxy Creditors Meeting” (this must be completed and sent to RECOUP if you would like RECOUP Contractor Debt Recovery to represent you at the Creditors Meeting Wednesday 27th June 2012)

Contact RECOUP Contractor Debt Recovery on 1300 732 687

Friday 15th June 2012 saw an External Administrator appointed to Reed Constructions Australia Pty Ltd.

The debt recovery road just got a whole lot harder.

2 days earlier I met with Geoff Reed at his North Sydney Office, Geoff assured me that he would personally fund the ongoing battle to make the Roads & Maritime Services pay for the works completed by Subcontractors.

Geoff Reed made it very clear to me that as long as Reed Constructions Australia Pty Ltd did not go into liquidation he would not give up the fight with the NSW Govt for payment towards Subcontractor claims and in fact he is about to up the ante. Geoff Reed has committed to funding debt recovery for and on behalf of the building & construction contractors owed money for Reed Constructions projects. Security Of Payments Act claims are the most likely path.

Lets be very clear on this; we will focus our entire energy on doing whatever is required so subcontractors are paid for work done on RMS projects.

And whilst this fight with RMS goes on the more the damages suffered by the Subcontractors increases. Many Subcontractors attest to this.

Building & Construction Subcontractors allege that Roads & Maritime Services have been negligent in their management of the Reed Constructions Australia Pty Ltd Contracts and that the Roads & Maritime Services have breached their duty of care in respect of Subcontractors. The management of the RMS projects must be examined so that sub contractors know who should pay.

Litigation is the last option but will be examined and employed if needed.

If you are a Subcontractor owed money by Reed for Roads & Maritime Services Projects contact RECOUP on 1300 732 687 if you can assist with providing evidence of Roads & Maritime Services actions or in action that you believe may have contributed to your current position. A possible Class Action would ask the Court to order the Roads & Maritime Services to pay you in full for work completed plus damages plus costs.

And please note very carefully; all of the current Security Of Payments Act Payment Claims being run by RECOUP (which cannot be enforced against Reed Constructions Australia Pty Ltd since they went into Voluntary Administration) will continue to be pressed and reassigned to the Roads & Maritime Services for payment in the coming weeks as per individual client instructions.

If we are not already running a Payment Claim for you contact us immediately to commence a claim under the Building & Construction Industry Security Of Payments Act 1999 with out delay.

Every day you wait to ask us to commence a claim for you is potentially another day you may have to wait for your money.

If your financial position is dire because you haven’t been paid for works you have completed on Roads & Maritime Services Projects RECOUP Contractor Debt Recovery will assist you and allow you to pay for RECOUP Contractor Debt Recovery services once you receive payment for the work you have completed.

Call RECOUP on 1300 732 687 for assistance.

Reed Constructions is one of the biggest failures in the building & construction industry for many years. And unfortunately the timing couldn’t be worse, debt recovery for building & construction contractors just isn’t easy but when you have a corrupt and incompetent Premier involved it is a whole lot harder for the small family businesses owed money for Government work.

Read the Minister for Roads and Ports MEDIA RELEASE here.

Has Greg Pearce made the right decision?
Has Greg Pearce got a clue about the building & construction industry and how difficult debt recovery is for contractors at the best of times.
Read St Hilliers Constructions thoughts below.

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