September 30, 2022

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Dale Liston said he only found out about the company’s liquidation on Facebook.

“No calls, there was no message from Oracle, no emails,” he said.

Homeowner Dale Liston says he has been left with a “shell” after Oracle collapsed. (9News)

“Honestly, yeah, still kind of coming down from figuring out what to do.”

Oracle Building Corporation’s liquidation was confirmed around 8am yesterday, with an estimated $14 million owing to creditors.

Robson Cotter Insolvency Group, which will handle the liquidation, issued a statement saying its estimated 300 homeowners will be impacted.

“We understand that total creditor claims may be in the vicinity of $14 million,” the statement said.

Construction giant Oracle has gone into liquidation. (9News)

“Projects range from not yet commenced, through to nearing completion.

“The company’s staff have been terminated effective from the date of the liquidators appointment.”

Liston said his own home was nothing close to finished.

“It is pretty much a shell,” he said.

“I’ve got some bricks on the outside, I’ve got a roof. They’ve delivered the kitchen cabinetry, and that is where it stopped.”

Master Builders Queensland CEO Paul Bidwell said the building industry faced unprecedented pressure. (9News)

The situation had already cost him extra money, after he had to pay to have his contract with the now-defunct Oracle terminated.

Master Builders Queensland CEO Paul Bidwell said while situations like Liston’s were tragic, Queenslanders were fortunate to have the best “safety net” in the country.

“The QBCC (Queensland Building and Construction Commission is the safety net in Queensland because they’ve got this statutory home warranty insurance scheme,” Bidwell said.

“So there is up to $200,000 on top of what Dale has got that will go towards the completion of the home.”

Bidwell said while he wasn’t defending Oracle, it would have been impossible to predict recent stresses and demands on the building industry.

The big businesses making an exodus from Russia

“No-one could have foreseen the escalation that was coming down the line,” Bidwell said.

“Who would have thought the Ukraine war would have an impact on the cost of building? It has. A significant impact, because that’s where we get the majority of our engineered wood products from.”

But Liston said many builders in the industry were still doing the right thing and getting jobs done despite outside pressures.

“What’s happened with Oracle is greed, and that’s all it comes down to,” he said.

“They saw a big piece of pie and they wanted to grab it.”

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