Beechwood Homes Group, which operated across Sydney, Newcastle and Wollongong, entered liquidation earlier this year, leaving more than 400 creditors owed about $75.5 million. Its director, Vittorio Cavasinni, blamed rising costs that his fixed-price business could not pass on to customers, as well as family tragedies; a liquidator said he had not provided a director’s report to support investigations into the company’s debts.

Virginia Fletcher, a single mother of 11, says she paid Beechwood $405,000 in January 2025 for a home that never began construction, and has only a tap on the vacant block to show for it. She says the money went into the company’s operating account and was spent within 35 days; the liquidator told her there were insufficient assets to repay unsecured creditors. Beechwood Homes NSW had 38 projects under construction and 68 in pre-construction when it collapsed, while some customers with unfinished homes were offered completion by another builder through the Home Building Compensation Fund.