Builder sorry for giving 100 subbies false hope

PELOTON Builders Pty Ltd has apologised to more than 100 sub-contractors sent "received remittance advisory notes" this week for work done for the collapsed Walton Construction company.

General manager David Scott said the notes had been sent out because of a programming error made on an IT system that Peloton had bought from Walton.

"The notices were withdrawn very quickly and we have apologised to everyone who received a notice," Mr Scott said.

Subcontractors sent the "received remittance advisory notes" briefly had their hopes raised that they would be paid substantial amounts owed to them for jobs done for Walton.

However a follow-up email said an error had occurred and they should take up any issues with the administrator.

In response to questions put by the Daily, Peloton said it had bought a substantial part of the Walton Construction business when the company was being wound up earlier this month.

The purchase included the transfer of seven construction projects and 42 of the 67 Queensland staff.

Mr Scott said the purchase also included the IT and other systems where the transmission error occurred.

He said Peloton was open for business with substantial projects under way. Three more projects had been won in the past fortnight and these would provide jobs for up to 150 contractors. "Peloton brings the best Queensland aspects of the old Walton business without the problems that occurred with Walton projects in other states," Mr Scott said.

"We have a strong balance sheet to deliver jobs and projects for Queensland families and businesses.

"It is sad that there have been some people who have suffered by the collapse of Walton but Peloton's job is to work with what has been saved and build another great Queensland company."

Peloton was registered with the Australian Securities and Investment Commission (ASIC) on August 5 this year.

On August 27 this year, Walton Construction (Australia) Pty Ltd director and principal shareholder Craig Walton was registered by the Queensland Building Services Authority as Peloton's building licence nominee.

On September 24, Rudolf Johannes Jona was appointed director of Peloton.

Walton Construction was placed in external administration on October 4, catching by surprise subcontractors on Walton's Nambour Coles - owed between $1.95 million and $3 million.

Subcontractors on other Walton jobs across the state also are owed millions of dollars.

On October 15, a meeting of creditors in Melbourne was told by the administrator Lawler, Draper Dillon that Peloton had engaged Mr Walton as a consultant to smooth the transfer of projects from his failed company to the new entity.

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