Mahercorp Escapes Liquidation as Two More Fail

While one home builder managed to avoid liquidation earlier this week, two other companies have not been so lucky.

Weeks after it announced it was going into voluntary administration, Mahercorp’s customers and creditors have voted to keep the business going.

About 90 per cent of Mahercorp’s customers voted to pay an extra 6.5 per cent to fund it.

Construction is scheduled to resume for these customers from June 12.
Mahercorp owns the brands Urbanedge Homes, Eight Homes, and House and Land World. 

The Urban Developer first learnt of liquidation concerns for Mahercorp in April when it attempted to contact the company for confirmation.

Mahercorp declined to comment at the time but then announced that Cor Cordis would take over as administrators in late April.  

It left more than 700 homeowners unsure of what would happen with their builds while options for restructuring were assessed.

Company chief executive Steve Maher said rising construction labour and material costs had been the main cause.

During the voluntary administration period, company operations were suspended. 

While the Victorian government acted to provide a $15-million fund for homeowners after the Porter Davis collapse, it is not likely to assist other homeowners.

▲ The Porter Davis collapse triggered a Victorian government rescue fund of $15 million for more than 500 affected families.

Meanwhile another Victorian home builder, Rawdon Hill,  has appointed Dye and Co as administrators soon after it advertised that it would be able to complete some of the incomplete Porter Davis builds for customers.

And in Western Australia, the Slatter Group has appointed liquidators to wind up the company after attendees at its general meeting voted for voluntary liquidation.

The company had operated for two decades, working on residential projects and government contracts for educational buildings.

Ernst and Young representatives Samuel John Freeman and Clare Anne Baily will act as joint liquidators with the Slatter Group ceasing all trading.

Slatter Group had 15 projects that will now be left in hiatus until the liquidators can assess and contact creditors and customers.

WA Housing Group and Individual Developments went under in January followed by Hamlen Homes going into administration in February.

The Urban Developer contacted the administrators for Rawdon Hill and Slatter Group for comment.