More than 150 subcontractors will be back on the tools early next week after developer Kenfrost’s building licence suspension was lifted late this afternoon (Friday, July 19).
Kenfrost Homes representative Adam Gowlett said the company had worked with the Queensland Building and Construction Commission (QBCC) to reach a successful agreement.
He said he was pleased to advise that work would recommence on all Kenfrost building sites across Cairns early next week. This includes at least 60 houses.
“Kenfrost will continue to work with the QBCC in a collaborative manner and will be providing further paper work to the QBCC in the next couple of weeks,” he said.
“Kenfrost is looking forward to getting back to business as usual. The contribution that Kenfrost makes to local economy through engaging subcontractors, employing local people and using local service providers like engineers, surveyors and sign writers to name just a few will continue.”
The QBCC suspended Kenfrost Homes‘ building licence on Wednesday, saying Kenfrost failed to meet the minimum financial requirements (MFR).
A QBCC spokesman said he commission had lifted the suspension following a ‘stay’ application in the Queensland Civil and Administrative Tribunal (QCAT).
“The company applied to QCAT to have the suspension ‘stayed’, which the QBCC has consented to, following receipt of updated financial information,” he said.
MFR laws are intended to promote stability in the industry and protect subcontractors from working for contractors who utilise unsustainable business practices.
Major construction firm Laing O’Rourke had its licence suspended by the QBCC in March over financial concerns
That suspension was also lifted within days following an increase of $32 million in equity held by Laing O’Rourke.