GCB Constructions (Qld) Pty Ltd

The QBCC does not have a role in the distribution of funds out of Trust Accounts but does have robust powers to monitor and investigate the administration of Trust Accounts. 

There are strict penalties in place for non-compliance with the requirements of the Building Industry Fairness (Security of Payment) Act 2017, including imprisonment. 

In the meantime, the QBCC is undertaking investigations to ensure that the Trust Account framework in Queensland is being administered in accordance with legislation. 

The QBCC continues to work to ensure that the beneficiaries of Trust and Retention Accounts are receiving all applicable protections offered by the Trust Account framework. 

This includes checks undertaken by the QBCC of trust and retention accounts that were administered by GCB Constructions Pty Ltd. 

If the QBCC identifies any wrongdoing in relation to any entity’s trust and retention accounts, it will take any and all appropriate regulatory action.

Background

On 26 July 2023, GCB Constructions Pty Ltd, QBCC licence number 1208941, appointed administrators, SV Partners.

At the time administrators were appointed, GCB Constructions Pty Ltd had five projects that required a project trust account, with a related retention trust account: 

• Air conditioning and Electrical upgrades - Robina SHS, Keebra Park SHS, Coombabah SS - Cooler Cleaner Schools Program
• 48 residential units - combination 3 and 4 bed over 29 levels – Drift Residences
• Residential - 33 levels above ground and 4 level basement – Amaya
• 34-storey residential Apartment Building – Aria Canopy
• 8-level residential apartment building – COTE Palm Beach

Who do I contact if I am owed money by GCB Constructions? 

The administrators, SV Partners, are responsible for determining the outcome of all outstanding payments for GCB Constructions projects and administering the project trust accounts, from the date of their appointment on 26 July 2023. This includes administering payments due to beneficiaries of the above project trusts and all subcontractors and other parties. 

The timeframes SV Partners use as administrator to determine outstanding payment is unknown to the QBCC and is dependent on their confirmation of outstanding payments for GCB Constructions operations. 

The QBCC encourage all persons who consider themselves to be beneficiaries for the above trust projects, subcontractors and suppliers who are owed money by GCB Constructions to register any outstanding payments with the administrators immediately. 

Beneficiaries of GCB Constructions projects

If you believe you are a beneficiary of these trust projects – or a subcontractor who has performed work for either of these projects and is owed payment for this work - you must register your proof of any outstanding payments with the administrator, ensuring you specify which trust project consider you are owed money for. 

You can register any outstanding payments by contacting SV Partners directly via email at gcbconstructions@svp.com.au or call them on 07 3310 2009.

Creditors of GCB Constructions projects 

If you are not a beneficiary but are owed money from GCB Constructions for these projects or any other project under GCB Constructions (i.e. you are a creditor but not a trust beneficiary), you should still register any outstanding payment. 

You can register any outstanding payments by contacting SV Partners directly via email at gcbconstructions@svp.com.au or call them on 07 3310 2009.