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…
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,…