Tagara Collapse

Posted by westside at 12:50 PM on Jun 26, 2015


As if it wasn't hard enough out there at the moment we found ourselves caught up in the collapse of the Tagara Group. Westside is always monitoring and managing our risk profile and in this context the Directors recognized the general financial stress in the building industry and had put in place a Trade Creditor Insurance policy. While we feel deeply for those subcontractors who were badly burnt we came out of a difficult situation pretty well unscathed. In fact our policy paid out sooner than our contractual terms with Tagara. Thanks so much to the professional staff at NCI Insurance Brokers for their support in getting our claim settled so quickly. Also to Leedwell Projects, who represent the client on the Murray Bridge Green Shopping Centre project, for their professionalism and understand in negotiating a new contract to complete the work and for their ability to manage the building process in difficult circumstances.