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Construction PRO
A group of Bathla lenders has agreed to provide a short-term lifeline for the embattled residential developer to progress some projects, while other projects will be suspended and 213 employees stood down as of Monday.
Construction PRO
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.
Construction PRO
As Bathla administrators reveal debts of over $3.4 billion, the corporate regulator has told a senate committee hearing the sheer number of private lenders that backed the company will make its tracing task difficult.
Construction PRO
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.
Construction PRO
A judge has allowed collapsed oil and gas company Timor Sea Oil & Gas Australia to assign its claims against the Commonwealth over alleged losses stemming from the loss of its petroleum licence rights.
Construction PRO
Administrators for ailing residential property develor Bathla say the company will be forced into liquidation by the end of the week without further funding by lenders.
Construction PRO
The administrators of collapsed building company Novati Constructions have been ordered to give developer Hulak two bank guarantees worth $312,500 each, with a judge finding it would be unconscionable to withhold them.
Construction PRO
Property developer Bathla has entered voluntary administration, citing a reduction in sales, high construction costs and falling confidence in key markets.
Construction PRO
A judge has given the liquidators of Tahmoor Coal the green light to expand their case against Sanjeev Gupta's Clydesdale Engineering Limited to allege that an additional loan document and more than $28 million in payments were part of an alleged voidable transaction.
The corporate cop is challenging a decision that tossed its breach of duty claims against three Regional Express board members over the company's continuous disclosure failures.