Home Warranty Insurance Update – Paulding Constructions Pty Ltd

Friday, 11 December, 2009

CREDITORS’ MEETING
The first creditors’ meeting has been scheduled by the liquidators of Paulding Constructions for 10:00am Friday 18 December at:
The Courtyard Room
Whitehorse Civic Centre
379 – 397 Whitehorse Road
Nunawading Victoria 3131

A representative from Vero will be present and available to answer questions at the conclusion of the meeting should you choose to attend.

INSOLVENCY PRACTIONERS INSURANCE
Vero has been advised by Willis Australasia that interim insurance cover for the incomplete homes is in place. Confirmation, by way of a certificate of currency verifying that cover has been extended, is expected shortly. Should you have any questions with regards to this insurance please contact the liquidator Vincent Aquilina directly on 03 9894 1044.

CLAIMS
To date we have received 16 claims for incomplete and/or defective works, which are currently in the process of being assessed. We encourage all home owners who have incomplete and/or defective works to submit their claim form with Vero for immediate assessment. Please refer to the Update of 2 December 2009 for details on your entitlements of claim.

PROGRESS PAYMENTS
Please note that if you receive a legitimate payment request from the liquidator seeking recompense for the completion of a certain stage of works in line with the contract, you are required to make payment for this stage. Before making any payments, please contact the liquidator to confirm the amount and payment details.

ALTERNATE ACCOMMODATION, STORAGE AND REMOVAL EXPENSES
You have the right to claim reimbursement for expenses that you have incurred after the scheduled completion date for up to 60 days as per Clause 3.2(i) of the Home Warranty Insurance Policy.

In order for Vero to indemnify you for these expenses, you will need to submit a claim and enclose copies of all tax invoices/receipts substantiating your loss. Once we have received this documentation Vero will reimburse you for this loss, should the cost be considered reasonable and in line with the policy provisions.

Should you have any questions, please contact our office on 1800 554 255.