Contractor retentions regime a lemon, industry told

Wed, 23 Oct 2019

A legal expert says the retentions regime meant to protect subcontractors has turned out to be a lemon that will not protect them in the vast majority of construction company collapses. Martelli McKegg partner Geoff Hardy told delegates at an industry conference that the law which makes the holding of retentions on trust compulsory was misconceived. The industry continues to consider how the regime applies following construction collapses such as Ebert Construction, Orange-H, Arrow Construction, Stanley Group and Tallwood Holdings. So...

Unlock all stories free for 10 days

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

We won’t charge for 10 days. You can cancel anytime with two clicks, an email or a phone call. Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

You will be charged in 10 days unless you cancel beforehand.
We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Media

WBD shifts risk with news deal

Warner Bros Discovery has engineered a low-risk news strategy as it cuts costs in NZ.

Daniel Dunkley 5:00am

Primary Sector

Tough season for Terra Vitae Vineyards

The yield from this year's harvest was 20% below the budgeted amount.

Rebecca Howard 5:00am

Economy

Wayne Brown leads charge for Latin America-Auckland flights

Auckland mayor wants direct flights between Auckland and Brazil.

Dileepa Fonseka 5:00am

Wayne Brown leads charge for Latin America-Auckland flights

Sponsored

Boosting rural growth with innovation

Productivity and sustainability go hand in hand for the rural sector

ASB Scam Update

Sponsored

Auckland's new "Midtown" taking shape

5-star hybrid workspaces, combined with the City Rail Link, are creating a revitalised inner-city zone designed to motivate workers back to the office.

Alberts