WA Building Commissioner Ken Bowron has taken the unusual step of issuing a warning about Subiaco building and development firm ArchiApps’ ability to pay its debts on time.
“The fact that the number of court actions against ArchiApps have been increasing steadily over the last two months is one indicator that the companies may be under serious financial stress,” Mr Bowron said.
“All registered building contractors are required to notify the Building Services Board if they are no longer able to meet their financial obligations under the Building Services (Registration) Act 2011.”
The Department of Mines, Industry Regulation and Safety, Building and Energy Division, understands that Archiapps’ director Mr Feng is exploring options to address the company’s financial positions and is complying with his obligation to notify the Board.
“Anyone dealing with the companies should be cautious and should only make payments or give credit when the companies confirm their financial positions,” Mr Bowron said.
In the event a company enters external administration, affected clients are able to make a claim on their policy of home indemnity insurance (HII).
Further information on making claims can be obtained from the HII insurer.