Their personal assets will be well hidden or in a name of their spouse who are not connected with the business.
I thought that was half the problem - asset rich/cash poor..... unless they have been super ** and hiding them...
Browse Forums Building A New House Re: Westminster Homes - The official thread 79Apr 15, 2009 12:07 pm joltinjoe torourke1 joltinjoe what insurance company is the home warranty insurer for Westminster? Hi there, the insurance company is Lumley insurance. do you know anything about them? Thanks T. Make sure you get a claim form from them and also complete it asap and copy all your documents. Even if deed of company arrangement is entered into they are still technically insolvent for the purposes of your claim. You have to demonstrate your loss. make sure you claim for all the extra rent and storage costs that you have had to pay untill your house is completed. The non completion payment is up to 20% of the building contract value. Identify all defective works now ! Total available under the policy is $300K send them the claim form and follow them up that they have received it. Hi There, We are 1 month away from handover and are sitting on a nearly finished site with flooring, wet area tiling and driveway and landscaping to do. I am concerned about vandalism and theft. I notice you mentioned you can claim extra rent and storage costs. Do you think we can claim lost rent (as we were planning to rent it out) and extra funding costs ? I would also appreciate if anyone knows if the place is broken into, whether this is all insured also ? Thanks Re: Westminster Homes - The official thread 80Apr 15, 2009 1:58 pm Hi Marlton, From memory, our bank will not release the final progress payment until WE have the house insured and their name included in the insurance certificate. Before that the house is the builder's responsibility and should be covered by the builder's insurance. The receivers said that they would answer specific questions, email them and ring them they should be able to help. I would never build with Fowler homes. I built with them in 2021 and till date maintenance issues are pending. All their existing trades and businesses don't work with… 14 109959 Hi there! Putting the feelers out there for those who have (or almost) built with Arli homes! Interested in your experiences who've built from their stock home designs… 0 26754 |