Porter Davis had about 470 employees and was forecasting revenue of $555 million for the 2023 financial year prior to its collapse last week.

“Directors of companies can be held personally liable for incurring debts that remain unpaid, if the company was insolvent when they incurred those debts, and they should have known, or did know, that the company was insolvent,”

More than 1700 home builds have been abandoned across Victoria (1500) and Queensland (200), but the liquidators have confirmed they are in talks with builders who could scoop up the unfinished work.

“Making the decision to restructure or liquidate is an important moment of truth,” according to Salvest managing director Anthony Ferraro.

He says it will determine the future of the business, and the fortunes of all those tied to it.

But experts in the insolvency field say there are ways you can cushion the blow when a builder goes belly up.

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