Embattled home builder Bathla Group has been placed into voluntary administration, leaving customers in limbo in what it says is a “perfect storm” of circumstances. It joins the long list of Australian residential builders and property developers which have entered voluntary administration or liquidation due to soaring material costs, labour shortages and fixed-price contracts. Founder…
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Let’s be clear. Any private credit lender that gets itself in serious trouble over the collapse of Sydney home builder Bathla has no business being in business. The decision to place Bathla in voluntary administration on Tuesday wasn’t exactly a surprise, given concerns about the group’s huge debt levels, clear cashflow problems and substandard building…
NCLAT Restores Corporate Debtor Right to File Reply in Insolvency Proceedings; Upholds Litigant Cannot Suffer for Lawyer’s Fault Taxscan Read the original article here
Major Sydney residential developer Bathla Group has fallen into administration after months of mounting financial pressure. Administrators from Teneo were appointed on Tuesday to its main corporate entity, Universal Property Group, as well as Raj & Jai Construction, a company linked to the Bathla Group, documents lodged with ASIC show. Voluntary administration is when an…
$3.6bn builder collapses, 15k homes in limbo News.com.au Major Sydney developer Bathla Group collapses, placing buyers in limbo SMH.com.au Major NSW property developer enters administration ABC News & Headlines – Australian Broadcasting Corporation Bathla Group’s $3.6bn collapse, 15,000 homes in limbo The Australian Major Sydney property developer Bathla Group falls into administration Domain Major Aussie home builder collapses into administration,…
Major property developer Bathla Group has plunged into voluntary administration with the company citing a “perfect storm of circumstances” for a decision that has left customers in limbo. Administrators from Teneo Australia have assumed control of the Sydney company and its subsidiaries, and launched an immediate assessment of its financial position. Administration will cast a…
REVEALED: Liquidator appointments for businesses in the Banyule council area for August 24 Herald Sun Read the original article here
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Indebted home builder Bathla Group has announced the company has collapsed into administration citing a “perfect storm” of economic circumstances for the company’s demise. The news on Tuesday has left customers in limbo as the home builder becomes the latest casualty of the industry. Bathla Group now joins a long list of Australian residential builders…