A bespoke South Australian residential home builder has collapsed and appointed an external administrator. Residence Building Group is the latest builder in the state to enter voluntary administration, following the collapse of four other companies in the span of several months. The company has seven current home builds, including a project in the Adelaide Hills…
Oct 4, 2023 6.36pm Bradley Hall, the owner of boutique home builder Chatham Homes, which went into liquidation this week leaving 50 buyers with unfinished homes, blamed the largely hidden commissions builders pay to referring agents between 8 per cent and 12 per cent of a contract price for his companys collapse. The absurdly high…
Fresh changes to the insolvency code removed the moratorium hurdle that lessors faced in taking back control of aircraft from bankrupt airlines. Transactions, arrangements, or agreements related to aircraft, aircraft engines, airframes, and helicopters will be exempt from the moratorium under the new amendment to the Insolvency and Bankruptcy Code, 2016, according to a government…
(London) The Legal 500 United Kingdom 2024 has recognized a number of Akin practices and lawyers in the firms London office as leaders in their respective fields. For the 10th consecutive year, Akins financial restructuring practice received top rankings in the Corporate Restructuring and Insolvency category. In addition, Akin saw three partners named to the…
Torrent Investments Pvt. Ltd has filed a Letter of Urgency in the Supreme Court challenging the 2 March order of National Company Law Appellate Tribunal, that allowed Reliance Capitals lenders to initiate a second auction, as a part of its corporate insolvency resolution process. In its three-page letter, Torrent said it has sought the apex…
Yet another South Australian builder has gone into voluntary administration, citing fixed price contracts as a factor behind debts of more than $1 million. Key points: Residence Building Group has appointed a voluntary administrator The company has shared the news in an email The managing director said COVID-19 and inflation were contributing factors The Residence Building Group yesterday appointed…
A building industry association says the customers of a Victorian home builder in voluntary liquidation might have to pay more to get their homes completed. Key points: The company owes $2 million to 200 unsecured creditors and has left 50 projects unfinished in Victoria The Master Builders Association of Victoria says customers might have to pay…
A Victorian residential builder has entered liquidation and terminated all of its staff. River Dale Building Group Pty Ltd, which trades as Chatham Homes, appointed AS Advisory as its liquidator on Monday, October 2. The firm said Chatham Homes stopped work on all of its current 50 residential home projects in Victoria, while there were…
Australia’s construction industry has been rocked by the collapse of yet another builder. Victorian firm River Dale Building Group Pty Ltd, which trades as Chatham Homes, appointed Andrew Schwarz from AS Advisory as liquidator at lunchtime on Monday. Schwarz confirmed to 9news.com.au that the company owes around 200 creditors a total of $2 million, although…
A building company has collapsed into liquidation with 50 homeowners across Melbourne and regional Victoria impacted. News.com.au can reveal that River Dale Building Group Pty Ltd which traded under the name Chatham Homes went into voluntary liquidation less than 24 hours ago. Andrew Schwarz of insolvency firm AS Advisory was appointed as the liquidator around…