Christine Caulfield

Sydney residential developer Bathla has accrued debts of $3.4 billion, administrators revealed Friday during a first creditors meeting as discussions with lenders on funding to keep 45 construction projects on track drag on.

Bathla's administrators have yet to reach a deal with the embattled developer's lenders on short-term funding, but money has been found to make partial payments to employees.

Firmus has entered a $425 million agreement to be a cornerstone customer of Subco's planned submarine cable system, giving the AI infrastructure company dedicated connectivity between Australia and the US.

Administrators of Bathla Group are continuing talks with the embattled developer's lenders over a short-term loan that will keep the business afloat, and are hopeful a funding package can be secured by Thursday.

Renewable energy company 1414 Degrees has purchased Vast Solar Aurora, securing control of South Australia's Aurora Energy Precinct in the process.

Carroll & O’Dea Lawyers has brought on a partner and his team from Herro Soliciors to expand its commercial property and leasing practices. 

AUSTRAC is investigating Western Union over concerns about management of high-risk payment channels and customers.

Singapore-based Hoi Hup Realty has marked its foray into the Australian property market with the $201.8 million purchase of Four Points by Sheraton in Chippendale, Sydney.

Charter Hall has picked up three industrial and logistics assets in South East Queensland, including an Australia Post distribution centre, for $192.4 million.

Meta is facing a class action investigation after reaching a multibillion-dollar settlement in cases by US authorities alleging the company designed its social media platforms to increase the risk of addiction.