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…
Future Retail lenders reject Space Mantra’s bid; NCLT extends insolvency period for 15 days The lenders of Future Retail Ltd have rejected the bid submitted by Space Mantra for the debt-ridden firm, which is currently going through Corporate Insolvency Resolution Process (CIRP). The Resolution Plan submitted by Space Mantra for Future Retail Ltd (FRL), failed…
Another Aussie builder has fallen victim to the construction crisis seizing the country. Zadro Constructions had to lay off all seven of its staff as it went into voluntary administration last month. Grant Thornton Australia was appointed as administrator for the western Sydney-based outfit on September 15. The companys website was no longer operational on…
The Pop-up Globe might be returning to the stage, but not everybodys happy about it. Sam Brooks talks to some creditors left in the dark after the companys liquidation about its shock 2023 return. On September 15, the Pop-up Globe announced it would be making an audacious return to Auckland, with a remounting of its…
The digital economy has broadened the scope and quality of forensic evidence, but it has also presented new challenges. Forensic accountants used to take a copy of the contents of a companys server for analysis. Today, data is often stored on a remote server managed by a third-party vendor, and Hawkes says there may be legal…