SUBCONTRACTORS and new home clients are counting the costs after another Gold Coast builder collapsed this week. Future Urban Residential, a Varsity Lakes-based business, went into liquidation late on Monday, leaving homes unfinished and subbies bills unpaid. The Queensland Building and Construction Commission is investigating the collapse and has referred the case to Federal regulator…
A QUEENSLAND owned and operated organic retailer has gone into liquidation, owing $2.8 million to more than 200 creditors. Wray Organic Pty Ltd, which operates stores under the Wray Organic banner in Toowoomba, Ipswich, and Newmarket, was established by owner Deborah Wray and her partner Gary Davis at Palm Beach on the Gold Coast in…
A QUEENSLAND owned and operated organic retailer has gone into liquidation, owing $2.8 million to more than 200 creditors. Wray Organic Pty Ltd, which operates stores under the Wray Organic banner in Toowoomba, Ipswich, and Newmarket, was established by owner Deborah Wray and her partner Gary Davis at Palm Beach on the Gold Coast in…
Debt-laden Monnet Ispat and Energy Ltds creditors have approved an offer made by a consortium of distressed asset fund AION Capital Partners and billionaire Sajjan Jindal-led JSW Steel, The Economic Times reported, citing a person aware of the development. The offer includes a payment of Rs 2,450 crore to the lenders and equity funding of…
Calcutta: Numetal’s partners may buy out Rewant Ruia’s stake in the consortium pitching for Essar Steel if the latter is found to be ineligible to bid for stressed assets under the provisions of the Insolvency and Bankruptcy Code (IBC). Rewant, the younger son of Essar Group founder and promoter Ravi Ruia, holds a 25 per…
Things dont look good for CBL CORP FPO NZX (ASX: CBL), with the company placed in administration over the weekend. CBLs shares have been suspended since 6 February 2018, after entering a trading halt four days prior to that. I wrote on the 5 February that the company had shocked shareholders by announcing it would take a $100…
NZX and ASX-listed insurer CBL Corp is in voluntary administration and has appointed KordaMentha “to preserve value in the interest of all stakeholders” after regulatory issues linked to its European businesses escalated. The New Zealand High Court made orders appointing McGrath Nicol interim liquidator of CBL Insurance following an application made by the Reserve Bank of New Zealand, the insurance…
1/52 25 February 2018 Victims of the Northern Ireland Troubles come together to take part in the Time for truth march through Belfast city centre against the stalled efforts in dealing with Northern Ireland’s legacy issues. Rex 2/52 24 February 2018 Oxford University Boat Club race in preparation for The Cancer Research UK Boat Race…
Embattled insurance company CBL Corporation has put itself into voluntary administration to protect itself from the fallout of its troubled European business. (file photo) Photo: 123rf The company, which provides specialist insurance for the construction industry, said KordaMentha had been appointed as voluntary administrators for the New Zealand parts of the CBL group. “The directors…
West Australian subcontractors have been saddled with further debts totalling hundreds of thousands of dollars after major civil landscaping company BCL Group went into liquidation. The Wangara-based company’s collapse comes as the latest blow to the construction sector, after Cooper and Oxley and Choice Living both went into administration in the past month. BCL…