Statement on Privium Group
Building company Privium Group Pty Ltd has recently entered into voluntary administration and is surrendering its contractor licence.
As a consequence, there have been a number of impacted homeowners in NSW. icare HBCF has reached out to homeowners in NSW with insured projects underway.
As of 1 December 2021, of 145 projects currently underway and insured by HBCF, we have received 89 claims to date and have been in communication with all but three of those claimants.
Can you make a claim?
Home Building Compensation insurance is a 'last resort', meaning a claim can only be made if the builder is dead, disappeared, insolvent or subject to a license suspension for failure to pay a judgment issued by NCAT or a Court for building work.
A voluntary administration is designed to resolve a company’s future. A voluntary administrator takes full control of the company to allow the director or a third party time to find a way, if possible, to save the company or its business.
If we accepted the claim, but the voluntary administration leads to the successful restructuring of Privium Group, concerns about incomplete or defective building work can then be pursued through the business directly.
We do not fully know yet what will occur with the company (which may affect your rights).
Submitting a claim
If your project is now incomplete or has defects that Privium Pty Ltd cannot address due to its current circumstances, please visit our HBCF Forms and resources page to complete a Claim Form for Homeowners so we can provide you with further assistance.
Send your claim submission to Gallagher Bassett Services Pty Ltd at builderswarrantyclaims@gbtpa.com.au or contact them on 02 9464 7270.
For any additional enquiries, please contact icare HBCF at enquiries.hbcf@icare.nsw.gov.au.
If you have concerns outside the scope of Home Building Compensation insurance, you may contact Fair Trading on 13 32 20.
Our Making a claims page also contains general claim information you may find helpful.
Progress payments and contractual changes
In the event that the builder or administrator pursues progress payments, you should also obtain advice about whether they are payable or whether you have any rights of set-off or dispute against a progress payment claim. Unfortunately, we cannot advise individual homeowners about this because each has specific circumstances.
If the builder proposes any contractual changes, such as the introduction of a new builder, a novation or modification of your rights, you should obtain advice about this and notify us (in case these changes affect your rights under the insurance).
We emphasise that given the recency of events, it is not clear what will happen with the builder or your entitlements to claim at this point. We wanted to draw to your attention, however, to the fact that there may be a policy in place which provides cover for your situation and you should review the policy and associated documentation closely to understand your rights.
This is only general information which may change depending on your personal circumstances. We strongly recommend that you review the Policy of Insurance under Part 6 of the Home Building Act 1989 (1 June 2018–current) below and obtain independent advice into your own situation.
