Building giant Privium Homes has officially been put into liquidation, after a creditors meeting on Wednesday. 

The decision means Hunter home owners aren’t likely to get their money back. 

FTI Consulting says it will look into the viability of recovery actions as part of the liquidation, but homeowners and other unsecured creditors are second to line to a number of entities, including Westpac and the Bank of New York. 

It’s also been revealed the company was already insolvent in August, even as new contracts were still being accepted. 

An investigation is set to commence, but it’s likely Privium will face a range of offences, including around the improper handling of insurance.