Highlights 1 After Jaypee, more builders might be declared insolvent. 2 The govt has assured home buyers that they will either get the money or house. 3 Rights of home buyers under RERA are secure, say CAs. It seems there is no respite for homebuyers despite assurances from the government that their money will not…
NEWCASTLE has the highest rate of personal insolvency in regional NSW according to figures released by the Australian Financial Security Authority. Across the Hunter there were 215 cases of personal insolvency in the June quarter of 2017, with Newcastles 43 debtors the largest in the state outside of Sydney. Across Australia there were 7,729 debtors who entered a…
DECEIT: Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the con man’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times. EVEN now, years later, Steve Josifovski doesnt want to believe he was ripped off. After all,…
Amid growing sense of anxiety and confusion among home buyers of Jaypee Infratech projects, the insolvency resolution professional (IRP) has come up with a few clarifications regarding a resolution plan and chances of refund for stalled projects. The IRP has come up with a list of 27 projects under three land parcels where buyers can…
Moneycontrol News The big development over the week has been on the real estate front. In a move that would worry homebuyers, one of the large developers, Jaypee Infratech was declared insolvent by the National Company Law Tribunal (NCLT), causing ripples. Being declared insolvent means the developer would be able to avoid the stringent provision…
New DELHI: The Insolvency Resolution Professional (IRP) dealing with the Jaypee Infratech case has concluded that the current proceedings will cover apartments and plots spread across 27 projects in three land parcels and has ruled out any impact on projects being developed by Jaypee Associates, while also categorically stating that no refunds are possible. In…
Buyers of undelivered flats can now seek claims from an insolvent company under the revised regulations of insolvency law. IBBI (The Insolvency and Bankruptcy Board of India) on Wednesday night added a form-F for homebuyers. Earlier the homebuyers didnt have a specific form to be filled up to claim refund from a builder. The government…
DECEIT: Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the con man’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times. EVEN now, years later, Steve Josifovski doesnt want to believe he was ripped off. After all,…
The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Insolvency and Bankruptcy Code, has said owner of undelivered properties can become part of the committee of creditors and stake a claim equivalent to the amount they have paid to realtors. Their claims, according to the regulator, would be treated on…
By Kate Thomas for MailOnline Published: 17:29 +10:00, 18 August 2017 | Updated: 18:03 +10:00, 18 August 2017 e-mail 3 View comments They’re holidaying in Ibiza as a family following a difficult year, which has seen the former tennis ace declared bankrupt and the couple face rumours of a marital rift. But Lilly Becker was…