Oracle Building Corporation Pty Ltd: Building giant collapses

Building giant collapses leaving hundreds of families in the lurch over their unfinished homes: ‘We are suffering’

  •  Queensland construction giant Oracle Building Corporation has collapsed 
  •  The company is hands of liquidators and has left up to 300 homes unfinished
  •  Angry and distraught customers have taken to social media to vent frustration
  •  It is the latest in the devastating nationwide wave of collapses in the sector

Yet another Australian builder has collapsed leaving distressed customers in the lurch over hundreds of unfinished home. 

Oracle Building Corporation Pty Ltd, aka Oracle Hunter Homes and Oracle Platinum Homes, was wound up at a general meeting on Wednesday – leaving up to 300 properties under construction.

It is the latest in a wave of devastating collapses in the building industry which is seeing firms go under across Australia, sunk by high costs and supply constraints. 

Queensland construction giant Oracle Building Corporation has been wound up leaving up to 300 homes unfinished

Creditors and suppliers are lining up to get what money they can after an insolvency notice was published with the corporate regulator ASIC. 

The building giant’s customers meanwhile took to Facebook to slam the company in the wake of the collapse.

‘We just lost our deposit,’ one customer claimed. 

‘Oracle Platinum Homes has gone into liquidation.’

Another customer said their ‘mental and physical health’ had been affected by the time with the builder.

‘I know I’m not alone in this. Not to mention how my family has suffered.’

One punter, Janet, posted: ‘My granddaughters house after two years is still only a slab and half a frame.’