Bathla Group cites a property market downturn and rising construction costs for its financial woes. (Dan Himbrechts/AAP PHOTOS) Home buyers have been left in uncertainty after a debt-laden residential developer called in external administrators to keep the firm afloat. Bathla Group cited a “perfect storm” including a property market downturn and rising construction costs in…
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Major Wollongong club put into administration amid $3 million legal dispute Illawarra Mercury Read the original article here
Major Wollongong club put into administration amid $3 million legal dispute Milton Ulladulla Times Read the original article here
Bathla Group, one of Sydney’s most prolific developers of lower-cost housing, has fallen into voluntary administration after a mounting financial crisis engulfed its sprawling property empire. Advisory firm Teneo has been appointed administrator of Bathla’s main corporate entity, Universal Property Group, as well as Raj & Jai Construction, the company responsible for construction across parts…
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Bathla Group has called in administrators after months of speculation over its financial health and reports it owes billions of dollars to private credit lenders. Global advisory firm Teneo confirmed to The Urban Developer that it had this week been appointed as voluntary administrator of the Sydney builder-developer and its subsidiary companies. Teneo said it…
Australian residential builder and developer Bathla Group, which operates in Sydney, has entered voluntary administration. Its customers have been left in uncertainty, The Guardian reports. Reasons for the decision The company’s founder and director, Bhart Bhushan, described the move as an “orderly business restructuring”. According to him, Bathla Group faced a combination of adverse circumstances:…
Insolvency and Bankruptcy Code, 2016 – Supreme Court Half Yearly Digest Jan – Jun, 2026 Insolvency and Bankruptcy Code, 2016 – No Condonation of Re-filing Delay Beyond 28 Days for IBC Appeals – While the Supreme Court Rules, 2013 (SCR) allow a 28-day window for curing defects and permit discretionary condonation of re-filing delay for…
By Dietrich Knauth NEW YORK, Aug 24 (Reuters) – A U.S. bankruptcy judge on Monday rejected auto parts maker First Brands’ proposal to pay back creditors by pursuing litigation against insiders, instead converting the case to a more straightforward Chapter 7 liquidation. U.S. Bankruptcy Judge Christopher Lopez said that First Brands’ proposed Chapter 11 plan…