Builder collapses leaving homes unfinished, thousands owed
A COAST builder has gone into liquidation leaving angry customers and contractors to realise the large sum of their losses.
Maroochydore construction firm Lusso Concepts went into voluntary liquidation on Monday, with Sydney-based liquidator The Insolvency Experts appointed external administrator.
The Australian Securities and Investments Commission lists Aaron Christopher Steel, 34, as director and Elise Louise Fulcher as a shareholder.
Their business is registered to a Savannah Esplanade address in Maroochydore.
Their website says Lusso Concepts specialises in custom-designed boutique residential homes.
The Insolvency Experts owner Steven Kugel said his initial information had come from Mr Steel and his partner Elise Steel, who on the website is listed as Lusso Concepts' creative director.
Mr Kugel said they had indicated costs just in excess of $250,000 owed to 26 creditors.
He said individual amounts ranged from $48,000 to about $550.
"Ultimately creditors will show to us what they say is owing," Mr Kugel said.
He said as far as he could tell there were two homes Lusso Concepts was building but had not completed.
"Based on the numbers I've seen initially, I'd say I don't think there are a lot of assets in this company.
"We have to work out if any of it or all of it is true."
He said he had written to all creditors seeking their input.
A creditors' meeting is scheduled to be held at Brisbane Airport from 9am on February 15.
The Daily tried to contact Aaron Steel but he has not returned the call.
Mr Kugel encouraged creditors to get in touch by calling 02 8378 3777 or emailing email@example.com.
"A liquidator's role is entirely for the benefit of the creditors," Mr Kugel said.