Subbies face shortfall in Rilean retentions fund

What the second stage of the Remarkable Residences will look like. (Image: supplied)

Tue, 31 Aug 2021

Subcontractors who worked on the Remarkables Residences subdivision near Queenstown look likely to be left out of pocket as the liquidator deals with fixing shoddy work and a shortfall in retentions.EY’s Rhys Cain and Rees Logan were appointed liquidators of the Rilean Construction group of companies in October last year as the building firm struggled with escalating costs. Rilean’s Central Otago unit completed the first stage of six in the $200 million residential development in Frankton, with the 56 townhouses selling like hotcake...

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