Tribeca Homes company placed into liquidation

Accountant and Tribeca Homes director Mark Richards. Photo / Nick Reed

Part of troubled housing development empire Tribeca Homes has been placed into liquidation by creditors.

The Herald reported in January how Tribeca blamed subcontractors in 44 dishonoured home building contracts worth $10 million.

Clients who had paid deposits had complained of waiting up to three years for no work on their homes, or houses left half-built and rotting.

The company had advertised and sold land and construction deals as investment packages, and employed multiple bankrupt Ritesh Mani as lead salesman.

The Companies Office yesterday reported that Tribeca Homes Holdings had been placed into liquidation.

Liquidator Biju Surendran of Menon & Associates said he would provide an update in his first report, due by April 23.

The collapse of Tribeca Homes Holdings follows the folding of related company Urban Studio in November.

Tribeca director Mark Richards did not returns calls before deadline to ask what position the latest liquidation left other companies in his group.