PBS Building director Ian Carter linked to failed Nishi builder Ply (ACT) Pty Ltd

Long-standing construction company PBS Building Pty Ltd went into voluntary administration on March 7, laying off 180 staff and leaving more than 1000 creditors in its wake.

PBS Building is a well-known name across the ACT and was involved in the construction of some major developments, including university housing, aged care projects and school buildings.

But as well as a long-standing history, the business also has links to a previous $42 million construction business collapse, ASIC documents reveal.

Founded in 1989, according to its previously active website, the company began as Prestige Building Services under the helm of brothers Peter and Ian Carter.

About 10 years into its ACT operations, the company delivered "a large proportion of the Sydney Olympic Village" which led to the opening of the group's Sydney office in 2000, followed by an expansion into Brisbane, the website also stated.

Five PBS Building companies have now entered voluntary administration, bringing its operations in three states to a standstill.

The five companies are PBS Building Pty Ltd, PBS Building (NSW) Pty Ltd, PBS Building (QLD) Pty Ltd, PBS Building (ACT) Pty Limited and PBS Management Company Pty Ltd.

PBS Building Pty Ltd was registered in 2005. It is currently registered to an address in Deakin, ACT and lists Ian Carter and Adam Moore, both based in the ACT, as its directors.

PBS Building Pty Ltd is wholly owned by PBS Property Group Pty Ltd, registered in 2002 and also based at the same address in Deakin with the same directors.

Ian Carter was also one of the directors of Ply (ACT) Pty Ltd from 2005 to 2012 according to ASIC documents.

Ply (ACT) Pty Ltd entered external administration in 2013, with debts of more than $42 million, according to previous reporting by The Canberra Times.

The company was working on the construction of the Nishi building in New Acton at the time. Ply (ACT) Pty Ltd's collapse stalled work on the high profile development.

Ply (ACT) Pty Ltd was deregistered in 2021.

PBS Building was also involved in the development of the first apartments on Kingston Foreshore.

The Waterfront Apartments complex was built by PBS Building and developed by Stockland Developments in about 2007.

In a magazine published by the Master Builders Association in 2008, the project was recognised in the association's national awards and was described as "a unique development" that "set a new benchmark in Canberra".

In 2009, a company named Cacam Pty Ltd, at one stage named PBS Building Pty Ltd, was deregistered. That company also named Ian Carter as one of its directors between 1998 and 2008 and named PBS Property Group Pty Ltd as a shareholder.

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PBS Building was recently working again with Stockland on a residential development in Red Hill known as The Parks.

It was one of 24 active projects that came to a halt earlier this month, days before PBS Building went into voluntary administration.

The administrators, RSM Australia, confirmed more than 1000 secured and unsecured creditors are owed a total of more than $40 million.

Ian Carter was contacted by The Canberra Times but declined to comment.

Do you know more? Contact brittney.levinson@canberratimes.com.au

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