More than 150 Nicheliving clients trying to claim insurance for incomplete home builds remain in limbo after a marathon seven-hour hearing over the company’s registration status failed to yield a resolution. Lawyers for the embattled builder gathered at the State Administrative Tribunal on Wednesday in an 11th-hour bid to stop the cancellation of its building registration. Nicheliving clients outside the State Administrative Tribunal on Wednesday after the marathon hearing.
Credit: Claire Ottaviano. The Building Services Board ruled not to renew Nicheliving’s registration over its growing debt, which the tribunal was told was now almost double the value of the group’s assets. The move triggered 155 claims from clients trying to unlock up to $200,000 in indemnity insurance to organise the completion of the homes themselves, something the company’s registration had precluded them from doing.
But Nicheliving’s lawyer Martin Cuerden, SC, warned the ruling could also strangle the builder’s only income stream and alleged the company was being “sacrificed”. “If not stayed, the board’s decision will likely result in significant losses for the business,” he said. “If the construction company has its registration refused on the basis of insolvency, that triggers the downfall of the whole group.
” Mr Cuerden claimed allegations by the Building Services Board that the company was unable to pay its debts was “untrue” and pinned the blame for incomplete homes o.