Impact of the CBLI liquidation on your claim
Homefirst Builders Guarantee (“Policy”) policy holders should continue to notify CBLI of claims. New notifications will continue to be assessed, but CBLI is currently unable to make any claim payments or instruct contractors to start repairs on any open claims until further notice from the Liquidators.
As Home Owners of the dwelling and under the terms of the Policy, it is your responsibility to take appropriate measures to minimize your risk/loss and to prevent further damage to your dwelling.
Any requests for the transfer of a Policy to a subsequent purchaser of the property to which the Policy relates that was received on or after that date of liquidation, 12 November 2018, will not be approved by CBLI.
Steps for claimants
Once the remedial works have been completed, what are the next steps?
Once CBLI has reviewed the invoices supplied for the completed Approved Scope of Works and determined its liability under the Policy, your claim will be recorded as a creditor in CBLI’s books and records.
You will be provided with an Offer of Discharge & Settlement Agreement for the agreed quantum of your claim. This should be executed and returned to CBLI.
Upon receipt of the signed Offer of Discharge & Settlement Agreement, the Liquidators will register you as an unsecured creditor of CBLI for your agreed claim which will enable you to receive future distributions from the liquidation when paid.
Prior to the payment of distributions, the Liquidators will request creditors to lodge an Unsecured Creditors Claim form. You will need to complete and return this form to the Liquidators in accordance with the instructions that will be provided to you at that time.
Should you have any queries in respect of your Policy you should contact your broker or professional advisor in the first instance. If your query relates to a claim you should contact CBLI’s claims team on +64 9 303 4770 or by email on email@example.com and provide all necessary information to support your claim.