A Western Australian building firm which has been stripped of its registration over financial shortfalls has vowed to appeal and complete any unfinished homes.Perth-based firm Buildsmart WA still has six unfinished properties in its pipeline, despite a tribunal judge upholding a move to strip the company of its licence.The ruling was made after the state’s building commissioner said the firm had been unable to prove it could meet its debt.However, the construction firm has insisted it will appeal the ruling and vowed to still complete the half-a-dozen projects it still has outstanding.“Buildsmart WA acknowledges the decision of the State Administrative Tribunal. While we are disappointed with the outcome, we intend to pursue an appeal.“Our priority remains our clients and the successful progression of homes currently under construction.“For 12 years, Buildsmart WA has proudly operated in Western Australia, navigating a number of challenging periods for the building industry and committed to the clients and communities we serve.”Two weeks ago, WA’s Building Service Board made the decision to refuse a bid to renew its registration on financial grounds.The decision not to renew the registration was due to analysis of the firm’s net assess position of -$4779.74 – with a cash flow deficit more than $48,000.The company, however, argued that payments due by clients would exceed construction costs by more than $540,000.A tribunal hearing, which concluded this week, has rubber stamped the decision, cancelling Buildsmart WA’s registration.It means the company will be unable to carry out any works that require a building permit or are valued at $20,000 or more.Building Commissioner Phil Payne urged an homeowners with incomplete or defective work under contract with Buildsmart WA to contact QBE.“Buildsmart WA could not demonstrate the capacity to meet its debt as and when they fall due,” Mr Payne said.“The tribunal’s decision, reached after hearing extensive financial and expert evidence, confirmed the board’s initial assessment and decision.“Registration renewal is not a rubber stamp. Builders must be able to demonstrate, with accurate, complete and timely financial information, that they have means to complete their building contracts and pay their debts as and when they fall due.,”Read related topics:Perth