The Federal Court has ordered Panoramic Homes SA into liquidation, yesterday approving an application by Adelaide company True Steel Frames to wind it up.
The company has been offering house and land investment packages in Wallaroo, Stirling North and Kadina, and adjacent the Greg Norman-designed golf course in Port Hughes on the Yorke Peninsula.
Liquidator Stuart Otway, of BRI Ferrier, told InDaily this morning the construction company owed about $60,000 to True Steel Frames and to an additional $60,000 to Cavan-based concreting firm Hallett Concrete.
But he said the total debts owed and the number of Panoramic Homes’ employees was unknown – because its director had not answered his phone calls since yesterday’s court judgment.
Otway said Consumer and Business Services had cancelled Panoramic’s building licence and that the company was not, therefore, currently in the process of constructing any homes in South Australia.
The company was registered mid-last year to a Queensland company, Thomas Family Homes.
It is listed as a builder for Queensland property investment firm Alliance Investment Group.
A post on the Panoramic Homes SA website reads: “We’re proud that we’re not high volume ‘churn’ builders, and we’re happy not to be the biggest in the industry.”
“We believe it’s all about building the highest quality home … we limit the number of homes we build and we have the lowest home-to-site-manager ratio in the industry.
“This means a higher level of professionalism, construction quality, and attention-to-detail than any other home builder.”
Its current director is Angela Thomas, who had taken over from Bailey, Stephen and David Thomas, and David Wren, in August.
InDaily contacted Panoramic Homes SA, True Steel Frames and Hallett Concrete for comment.
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