Background
Lahey Constructions was established in 1946 as a commercial builder, delivering club, community and institutional projects in regional New South Wales. It traded through one of the most difficult periods on record for Australian construction, fixed-price contracts struck before the inflationary surge, subcontractor cost escalation, labour shortages and programme delays compressed margins sector-wide, with construction insolvencies reaching a decade high in 2024.
Works ceased on several sites in early 2024 and on 1 July 2024 Voluntary Administrators were appointed. Olvera Advisors was engaged as deed advocate, working alongside the directors to construct, document and advance a restructuring proposal that sought to settle outstanding construction and defect claims relating to the wind down and novation of projects.
