EQC 'on-sold' liability could cost as much as $1 billion

EQC Minister Megan Woods reveals possible 18-month wait over 'on-sold' liability

Christchurch "on-sold" homeowners could wait as long as 18 months to know who will pay for their over-cap re-repairs and unscoped damage.

Earthquake Commission (EQC) Minister Megan Woods said she was advised it could take 12 to 18 months to determine liability.

"For the 664 people who are trapped in this situation it's still not clear who ultimately has the liability," she told Morning Report on Wednesday.

Press article here: https://www.stuff.co.nz/national/103197873/eqc-minister-megan-woods-reveals-possible-18month-wait-over-onsold-liability

EQC boss knew of repair problems for a year

EQC Minister: Houses not properly assessed could cost millions

Earthquake Commission chief executive Sid Miller told Morning Report he had known of the problems with repairs for as long as he had been in charge of the commission. He said work on the question of liability had been going on for some months but it was still unclear where it lay.

Mr Miller was unable to say whether more problems could be found in homes that had not been properly assessed.

"Could there be more? Yes, there could be more."

Government admits potential billion dollar blowout as EQC publicly apologises for botched claims

A problem "as big as the Leaky Homes issue", except this time the government may carry the cost.

A Newshub investigation has forced the Government to reveal a potential billion dollar cost blowout that has not been accounted for.

NewsHub: http://www.newshub.co.nz/home/politics/2018/04/government-admits-potential-billion-dollar-blowout-as-eqc-publicly-apologises-for-botched-claims.html

Simon Darby