Premier Daniel Andrews this morning introduced the federal government would pay again the deposits of about 560 households who had not been given insurance coverage by Porter Davis as that they had been promised.
The households’ deposit included an insurance coverage premium, however it has been found Porter Davis had not lodged the insurance coverage insurance policies with the state’s Victorian Managed Insurance Authority (VMIA).
Work had not began on any of the 560 households’ properties.
”We will treat them as if they were insured, so they will get their full deposit back – a deposit of up to five per cent,” Andrews stated.
Insurance would have solely coated deposits as much as 5 per cent.
Andrews stated he anticipated the reimbursements would price the state about $15 million.
“This is the right thing to do,: he said.
“This one-off scheme is about ensuring that hard-earned cash of Porter Davis clients is refunded as shortly as doable.”
Andrews said the government had not finished its work in evaluating what could be done to help Porter Davis customers whose builds had started.
Porter Davis’ collapse was announced late last month, leaving about 1700 home building projects in limbo.
The government has said the Victorian Building Authority is investigating Porter Davis Homes for potential breaches of the law.
Source: www.9news.com.au
