12:00a.m. 6th May 2008

| By Carolyn Tucker

About 70% of clients affected by the failure of Sunshine Coast-based Real Property Constructions have had their homes completed or deposits refunded.

Liquidators were appointed in February after the Building Services Authority suspended the company’s licence and ordered an immediate halt to construction work on RPC projects.

The industry watchdog had been monitoring the company for 12 months and took action after concluding it was insolvent or close to it.

It was later revealed that RPC had potential debts of up to $11 million.

Its demise was the largest residential building collapse in Queensland’s history, leaving 233 houses from the Gold Coast to Maryborough unfinished and a further 87 would-be home owners who had outlaid deposits in the lurch.

Housing Minister Robert Schwarten said Queensland’s Statutory Home Warranty Insurance Scheme had helped most of those affected have their homes completed or deposits refunded.

Mr Schwarten said all 207 complaints received by the Building Services Authority about RPC had been assessed and 140 finalised.

“There are 35 jobs currently out to tender and another 13 have been sent to quoting builders,” he said.

“Given the number of homeowners affected by RPC’s collapse just two months ago, the BSA has done a great job in finalising about 70% of people’s claims.”

Mr Schwarten said the value of claims under the warranty insurance scheme to date was $1.9 million.

RPC CEO Dennis Musca had previously been secretary and director of another failed building company, Denville Homes Pty Ltd, and has now been banned from holding a contractor’s licence for life.