Panel recommends 155 measures for insolvency guidelines for real estate projects

A high-powered committee to look into insolvency guidelines for real estate projects has come up with 155 recommendations, including project-wise insolvency admission, procedural consolidation of land and development rights as well as mandatory operation of project-wise escrow accounts. The recommendations are aimed at improving efficiency, ensuring timely completion of projects, enhancing stakeholder confidence, and strengthening…

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Major transport company plunges into administration – in business for 40 years | World | News

A trucking business that has been in business for 40 years has fallen into voluntary administration. Australian Nighthawk Transport went into administration last month as the business struggled with low revenue, tumultuous weather, equipment repairs, staff difficulties, legal costs. The trucking company went under owing ANZ almost $7.5 million and another $1.6 million to the…