We were pleased to facilitate a claim payment for a creditor of Probuild in just 13 days from lodgement.
Probuild group collapses owing millions.
The appointment of an administrator to Probuild has been widely publicised in the media, highlighting the impact it will have on the wider building and construction industry.
Many businesses aren’t aware there are creditors that will get a portion of their debts paid back to them in a timely matter.
We are expecting to receive many claims totalling more than $12m. These 57 clients all worked with Probuild and had exposures in one way or another. We were very pleased to deliver the first claim payment to one of our clients, just 13 days after it was lodged.
“they don’t need to worry about the drawn out administration process where they may (or may not) receive a few cents in the dollar”
This claim payment highlights the number one reason why businesses opt to take out a trade credit insurance policy, to put cash straight back into their hands.
This business is now able to go about what they need to do, whether it is marketing, R&D or simply taking on new clients. They don’t need to worry about the drawn out administration process where they may (or may not) receive a few cents in the dollar.
We have many other clients who are in the same position. Our dedicated claims team has been working hard to make sure all our clients affected by this administration get their claims paid in full and in a timely manner.