A Ballarat builder has gone into administration owing creditors over a million dollars, throwing into doubt the completion of several homes in Ballarat and the region.
LTR Construction based in Alfredton was placed into voluntary liquidation on November 19, with $1,039,387 owing to creditors.
According to Australian Securities and Investment Commission disclosure documents, the company, owned and directed by Lachlan Rodgers, owes almost $10,000 to one employee for superannuation and holiday pay, with another $29,706 owed to the Australian Taxation Office for unpaid superannuation.
The ATO is also owed $289,000, while sundry creditors – listed as ‘suppliers’ – are owed $330,000.
A further debt of $150,000 to a couple in Brown Hill has been struck out by Mr Rodgers with the annotation “NOTHING OWEING (sic) TO THIS PARTY.”
Mr Rodgers was in dispute with the couple over payments for a house development in Brown Hill. The matter had been listed for a VCAT hearing when LTR Construction went into administration last week.
The company, whose director and sole shareholder is Lachlan Trent Rodgers, also owes $285,000 to ‘The Goldfields Building Company Trust’.
Mr Rodgers is a also a director and sole shareholder of Goldfields Building Company, formerly known as Cavalier Homes Goldfields Pty Ltd and Cavalier Homes Pty Ltd.
At this point The Courier understands Goldfields Building Company is unaffected by the administration of LTR Construction, and some staff and staff entitlements may have been transferred to that company from LTR Construction.
Ditchy’s view.
LTR Construction has assets of $93,000 comprised of five motor vehicles ranging in value from $28,000 to $8000.
According to the disclosure document Mr Rodgers owes $322,544 to LTR Construction which “includes my wages from 2015” according to a handwritten amendment made by Mr Rodgers.
No other assets were declared in the document, which also says the company owes two creditors named ‘Prospa’ and ‘Moula’ $49,253 and $21,934 respectively.
These figures has been altered from $94,000 and $31,000. There is a bank overdraft of $20,000 declared.
Mr Rodgers also recently sold a parcel of land on Shortridge Drive in Lucas for $360,000.
The Courier understands LTR Constructions was working on several properties in Ballarat, Skipton and Rokewood.
It is unclear at this point how many of those properties will be affected by the closure of LTR Construction.
The liquidation of the company is being overseen by Worrells Solvency and Forensic Accountants, who are currently working through the company accounts and contacting creditors.
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