The confirmation that Projex Management and Construction, trading as Nicheliving, has entered external administration will be welcome news to the WA families who have been calling for accountability from this company for years.
For far too long the warning signs have been clear.
Nicheliving accumulated massive debts with the ATO, left hundreds of homes unfinished and abandoned subcontractors without payment.
It’s incredibly frustrating that it has taken so long for regulators, including the State Government, to act.
I’m also concerned about the lack of transparency around the $40 million deal struck by the Cook Labor Government which allowed Nicheliving’s directors to walk away without financial penalties, despite the serious harm they caused.
We’re left with more questions than answers about the true cost of this deal.
Today’s news may mark a step toward accountability, but it’s too late for the many families and tradespeople who have already paid a massive financial and emotional toll dealing with this company.
Many affected families may still face out of pocket costs to complete their homes.
WA’s home indemnity insurance cap is significantly lower than the $300,000 and $340,000 offered in Victoria and New South Wales.
While it is unlikely tradespeople will be able to recoup their full losses, they will at least now have some certainty about what they will be able to receive as part of the administration process.
I will continue pressing in Parliament for answers about this situation, especially the need for more support for customers.
