Record Details

Construction insolvency in Australia: reining in the beast

Construction Economics and Building

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Field Value
 
Title Construction insolvency in Australia: reining in the beast
 
Creator Coggins, Jeremy
Teng, Bianca
Rameezdeen, Raufdeen
 
Subject Construction Management; Construction
Construction insolvency; underbidding; security of payment; phoenix companies
Construction Management; Construction
 
Description Insolvency has become endemic in the Australian construction industry. The scale of the problem has reached such proportions that both the NSW Parliament and the Senate have, in recent times, commissioned inquiries into construction insolvency. This paper aims to identify the reasons as to why the construction industry is so susceptible to insolvency, evaluate the effectiveness of any existing insolvency protection measures available to construction firms, and to identify proposed future measures to address the factors causing construction insolvency. The results of a questionnaire survey designed to discover the extent of the construction insolvency problem, as well as building contractors’ views with respect to the causes and regulation of construction insolvency, in South Australia are presented. The research found that there is an appetite amongst building contractors for the introduction of further regulation to address construction insolvency. Further, although the research found underbidding to be the biggest contributory factor towards construction insolvency, it appears to be the most difficult factor to address through regulation which explains the paucity of recommendations which directly address underbidding emanating from the Senate inquiry in 2015.
 
Publisher UTS ePRESS
 
Contributor —
 
Date 2016-09-08
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
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Questionnaire survey
 
Format application/pdf
text/html
 
Identifier http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/5113
10.5130/AJCEB.v16i3.5113
 
Source Construction Economics and Building; Vol 16, No 3 (2016): Construction Economics and Building, Incorporating a Special Section on Innovation and SMEs in the AEC Sector; 38-56
2204-9029
 
Language eng
 
Relation http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/5113/5555
http://epress.lib.uts.edu.au/journals/index.php/AJCEB/article/view/5113/5564
 
Coverage Australia
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Category 3 building contractors
 
Rights Copyright (c) 2016 Jeremy Coggins, Bianca Teng
http://creativecommons.org/licenses/by/4.0