McLaughlin & Riordan act for approximately 100 legitimate businesses affected by the early termination of the Rudd Government’s Home Insulation Program (“HIP”), on 19 February 2010.
Our clients are well-established, profitable businesses run by very hard-working, honest people. They went into debt to participate in the HIP as manufacturers, installers, distributers and suppliers. As a result of its abrupt closure in many cases our clients lost their businesses, their superannuation and saw their houses sold out from under them.
In 2014, the Royal Commission into the Home Insulation Program was held, and Mr Ian Hanger AM QC appointed as Commissioner. McLaughlin & Riordan participated in the Royal Commission. In the report of his findings from that inquiry, Mr Hanger AM QC recommended that those pre-existing business who suffered loss arising from their reliance upon the assurances given by the Australian Government, be compensated. Despite that recommendation the compensation made available to those claimants did not adequately compensate many of those affected, and disregarded the new businesses who registered with the program before its demise.
In May 2016, McLaughlin & Riordan together with ACA Lawyers commenced a class action in the Supreme Court of Victoria, on behalf of pre-existing and new manufacturers, installers and distributors, whose businesses collapsed following the early termination of HIP.
The legal proceedings are currently on foot and we are continuing to work to obtain compensation for our clients in accordance with established legal principles.
For more information call Mark Farrell, Bernard McHardy or Natalie Merunovich on (02) 9223 2411.
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