It is too early to know whether Pindan creditors will get anything out of the collapsed company, according to its administrators.
All of Pindan's construction operations have ceased and more than half the staff have been let go following the company's collapse last week.
EY lead administrator Sam Freeman said creditors were owed $80 million and it was too early to say what sub-contractors may receive.
"There's a lot of discussions that need to occur with contract owners," he said.
"There's asset sales that need to occur, there's a large number of moving parts, litigation considerations, so it really is too early to comment on what a return to sub-contractors looks like.
Mr Freeman estimated there were 1,300 to 1,400 creditors, including employees, sub-contractors, shareholders, suppliers and other contract owners.
"There will be some people significantly out of pocket, and that's why at the (creditors') meeting today, there was a lot of emotion in the room and understandably so."
He said there would not be a dividend in the "short term" and in the absence of a deed of company arrangement, Pindan would go into liquidation.
Pool builder just one of many left out of pocket
Aquatic Developments Australia owner Antony Holling said his company was owed a six-figure sum.
"I don't really want to say exactly how much but it's significant to us," he said.
"We're a commercial swimming pool builder so obviously every little bit has an impact.
"You could be owed a dollar, you could be owed a million dollars, you know, it's not fair, the way we're having to carry the can and be the bank for these companies.
"And then obviously, the directors, where were they today?
"They weren't here, so you know, that's disappointing.
"I'm doubtful there'll be anything left for us by the time secured creditors have their hands on it and obviously employees have their entitlements."
Mr Holling said he was disappointed Pindan directors did not turn up to the meeting.
He has called for better protections for sub-contractors to be introduced urgently, and said he believed cascading trusts would help them from being out of pocket in the future.
The next creditors' meeting will be held be no later than June 23.
Union also calls for cascading trusts
Construction, Forestry, Mining and Energy Union (CFMEU) WA state secretary Mick Buchan said it was unlikely Pindan subcontractors would be paid what they were owed, and it was an indictment of the industry.
"They're owed hundreds and hundreds of thousands of dollars collectively and there's limited places to go," Mr Buchan said.
Mr Buchan called on Upper House MPs to amend legislation to ensure subcontractors received better protections.
He said using cascading trusts was the only way to ensure subcontractors would get paid.
Mr Buchan has criticised the McGowan government for failing to include a provision in its legislation.
"Wake up to yourself, it's West Australian businesses, the mum and dads, the bread and butter of this state," he said.
"Wake up to yourselves, rethink the legislation.
"To all the Upper House members there, think hard.
"If amendments could be put in to change and make sure that cascading trusts were included, that would be a great step forward."
Mr Buchan said there needed to be proper reviewing of procurement to ensure that when builders were selected, they had enough funds to do the job and there was no price gouging.
He believed that "any number" of companies could be in the same position as Pindan.
