Beleaguered Sydney home builder J+CG: Building & Construction Company has entered administration, owing tens of millions to both creditors and customers due to alleged building defects.
The family-owned company began operations in 1994, and constructed multi-storey apartment buildings, office complexes and commercial and retail spaces.
The home builder was put into administration in May amid ongoing legal cases in the NSW Supreme Court and the NSW Civil and Administrative Tribunal relating to the alleged breach of building standards in the construction of it’s apartments.
J+CG owes about $14.9 million to a number of creditors, primarily relating to alleged claims of construction defects according to documents lodged with ASIC on Friday.
The most considerable defect claim relates to the construction of the Rising Apartments in Mascot on Botany Road, which amounts to a combined $11.9 million.
The complex was completed in 2017 and consists of 44 apartments and four commercial lots with the owners of the building ordering an inspection in 2019 which found “potentially major defects related to the rooftop waterproofing”.
The matter is still being litigated in the NSW Supreme Court, with joint administrators Sean Wengel and Rashnyl…
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