Huge blow as major Aussie builder collapses – news.com.au

Another major building company has announced it has gone into administration. NSW-based Elderton Homes informed customers on Monday afternoon the business had faced ongoing struggles, citing natural disasters and the nations economic conditions following the pandemic. Today Elderton Homes has made the difficult decision to appoint Administrators to manage its ongoing affairs, the designer home…

Sydney builder collapses amid labour shortage and rising cost of materials – 9News

A New South Wales builder has plunged into administration after catastrophic weather events, the pandemic and the rising costs of materials made business too costly to continue. Elderton Homes announced it had appointed Liam Bailey and Chris Palmer of O’Brien Palmer as administrators today, citing the impact of several different events. “This has been a…

Building company liquidations: 283 in 11 months this year – New Zealand Herald

A PWC spokesman says the sector was under more stress now because of cost escalations, delivery and labour issues. Photo / Fiona Goodall New Zealand had 283 building company liquidations in 11 months this year, Commerce and Consumer Affairs Minister David Clark said. Andrew Bayly, Nationals construction spokesman, said he was concerned about high failure…

Dixon Advisory clients may vote to liquidate the company to pursue the directors who they feel are not shouldering responsibility for their financial losses – The Australian Financial Review

The administrators signalled in their report that the total claims of 4606 URF investors were sitting at more than $367.9 million. Shine Lawyers, which headed the class action against the company, and four other investors make up the COI. The committee said it weighed the marginal financial benefit of accepting the proposed deed of company…

Resolution professional was trying to liquidate hospital, NCLAT orders probe – The Sunday Guardian

While setting aside the NCLT order, the NCLAT bench directed an inquiry against the Resolution Professional. NEW DELHI: Setting aside a liquidation order of the National Company Law Tribunal (NCLT), which was based on the information provided by the Resolution Professional (RP), the principal bench of National Company Law Appellate Tribunal (NCLAT) has asked an…

Brisbane fintech Digital Surge is the latest cryptocurrency exchange in voluntary administration – Startup Daily

Brisbane fintech Digital Surge is the latest cryptocurrency exchange to be placed in voluntary administration in the wake of the collapse of US exchange. Scott Langdon, John Mouawad and David Johnstone from KordaMentha Restructuring were appointed voluntary administrators on Thursday, after the fintechs directors made the decision to put the business in VA on Wednesday.…

Fracking company New Standard Energy goes into liquidation leaving large Kimberley rehabilitation bill – ABC News

An embattled energy company in WA’s Kimberley region has gone into liquidation, ending a 10-year decline and leaving significant questions over who will pay their rehabilitation and decommissioning costs. Key points: Liquidators have only been able to recover $17,000 in bank accounts and have not been able to contact the company DMIRS says one of…

National Corporate Insolvency Firm, MNP Ltd. Expands Team Through Merger with The Bowra Group – Yahoo Canada Finance

CALGARY, AB, Dec. 5, 2022 /CNW/ – MNP Ltd., the insolvency subsidiary of national professional services firm MNP LLP, is pleased to announce that it has merged with The Bowra Group, effective December 1, 2022. The Bowra Group is a boutique financial advisory practice based in Vancouver with an additional office in Edmonton. Established in…