Builder busting hits school job
Rix’ son-in-law calls in the liquidators
A Gold Coast builder, who is the son-in-law of one of the Glitter Strip’s richest men, has put his construction company into liquidation, leaving creditors owed more than $1.2m and an unfinished job at an elite private school.
Ross Wolbers, whose fatherin-law is prominent developer Norm Rix, called in liquidators to his W3D Constructions Pty Ltd on December 7.
The company was building multimillion dollar projects at The Southport School where Mr Wolbers, 57, was an old boy. The works involved a sporting pavilion and day boarders’ facility, both of which have not yet been completed.
Subbies say work stopped abruptly on the projects earlier this month and tradies were told to “pack up your tools and get off the job”.
“We didn’t deserve that, especially at Christmas time,” one said.
A report by liquidator Matthew Bookless, of SV Partners, reveals almost 50 creditors are owed a total of $1.278m, with debts ranging from $170 up to $275,000.
The National Australia Bank is listed as the biggest creditor at $275,000, while Quality Aluminium and Fabrication is owed almost $208,000.
The Australian Taxation Office is also listed as a creditor for an unknown amount.
The Wolbers Family Trust is listed as being owed $2000.
According to the creditors report, W3D has assets valued at $274,185.04 but only $32,257.64 – listed as cash on hand – is realisable.
Partly-secured creditors are owed $45,804.29, leaving an estimated deficiency of $1.273m.
Mr Wolbers and wife Louise live in a mansion at Sanctuary Cove on the northern Gold Coast estimated by property analysts CoreLogic to be worth up to $4.73m.
Mrs Wolbers and her father Norm Rix are directors of a company which sold an Upper Coomera services station for $11.45m earlier this year.
Neither Mr Wolbers nor Mr Bookless could be contacted for comment.
It’s understood TSS has engaged new builders to finish the school works.