Some good news…
Home warranty insurance generally protects an owners corporation from being out of pocket for the cost to repair building defects where the builder has been made bankrupt.
But what happens when an owners corporation makes a home warranty insurance claim after the builder’s bankruptcy ends. Is it then too late for the owners corporation to make the insurance claim?
The answer is “no” according to a very recent decision of the NSW Supreme Court.
For further information Strata Home Warranty Insurance Rights
For NSW strata legal or levy collection advice please contact us here or call 02 9562 1266, we’re happy to assist.