A recent string of financial troubles in residential construction companies has shown that the building industry is anything but bulletproof.
So, for anyone about to sign on the dotted line or currently in the building process, it can pay to know what to do in these tough situations and what your rights are depending where you live.
Why are builders collapsing?
A range of factors have created the perfect storm for the demise of builders in the country, says lawyer Jennifer Dizon, of commercial litigation and insolvency firm Hicks Oakley Chessell Williams.
“A large number of builders have faced economic distress due to significant increases in interest rates and cost of materials, labour shortages and supply-chain issues,” Ms Dizon said.
