This Month
Young renters to bear the brunt of personal insolvency surge
People aged 24 to 45 comprise the majority of people who declare personal insolvency, and a new wave is coming.
- Max Mason
Sargon’s Kingston bankrupted over $154m China financier debt
Phillip Kingston, founder of superannuation technology venture Sargon Capital, did not appear at a court hearing about money. He says he’s in Ukraine.
- Liam Walsh and Max Mason
Eyes on Forrest, IGO as nickel’s nightmare year claims Panoramic
A surfeit of Indonesian nickel and weather disruptions have forced a former takeover target into administration. Will a fire sale lure IGO or Andrew Forrest?
- Peter Ker and Brad Thompson
Home builders will compete for business in 2024
Profit margins are already weakening for many of Australia’s home builders and greater competition will make that worse.
- Michael Bleby
- Exclusive
- Property investment
Trilogy $700m fund races to restart work on Gosford apartment project
The Trilogy Monthly Income Trust says it will finish the 35-unit NSW project despite a three-month delay caused by liquidation of its contractor.
- Michael Bleby
November
Iconic swimwear brand Tigerlily has plenty of US growth, buyers told
Deloitte was appointed to sell the label by private equity owner Crescent Capital in October, three years after emerging from voluntary administration.
- Sarah Thompson, Kanika Sood and Emma Rapaport
China’s troubled shadow bank Zhongzhi warns of insolvency
Zhongzhi Enterprise Group, with debts totalling more than twice its assets, told investors that efforts at a “self-rescue” failed to live up to expectations.
- Bloomberg News
More failures to follow upmarket reno firm that owes $4.6m
Ultimate Kitchens & Bathrooms went under without having the compulsory insurance for some customers; construction will see more collapses, CreditorWatch says.
- Michael Bleby
Multiplex heir’s profit plunge may have a silver lining for builders
After profit margins in Australia’s commercial construction industry fell by one-third, bosses say the worst has passed. But cost challenges remain.
- Michael Bleby
- Exclusive
- Construction
Builder failures hit Melbourne’s leafy inner suburbs
The latest collapse of boutique builders comes with new data showing insolvencies in the home building sector are set to rise further.
- Michael Bleby
Exclusive Sydney car club faces collapse as it posts $770,000 loss
The warning comes after eight directors resigned this year from the Royal Automobile Club of Australia and its prior auditors, Walker Wayland, quit.
- Lucas Baird
October
Sydney construction firm NPM calls in administrators
The construction, design and refurbishment firm completed commercial projects for some of the country’s biggest property groups.
- Larry Schlesinger
I’m not responsible for Dome collapse, former director says
The former head of a high-end building company put into liquidation last week says he’s not to blame - and that his offers to help the company were rejected.
- Michael Bleby
Melbourne builder Dome goes into liquidation as $6.5m loan unravels
While there are some signs that home builders are through the worst of the crunch, many remain vulnerable.
- Michael Bleby
ASX Wolf faces bankruptcy threat over $450,000 in court costs
The financial woes continue for share trader and social media influencer Tyson Scholz, who just a few months ago was posting images of himself on a private jet.
- Liam Walsh
Bankruptcy threat for Mayfair 101 visionary Mawhinney
A Sydney-based marketing entrepreneur has alleged in Federal Court filings that James Mawhinney owed a debt of $3.5 million.
- Liam Walsh and Jonathan Shapiro
US funds poised to swoop on troubled ASX companies
White & Case restructuring partner Timothy Sackar said he expected Australia’s sharemarket to become a hunting ground for cashed-up private funds.
- Emma Rapaport
The German property crisis claims its first big victims
While investor fears during the real estate crisis have centred on landlords, it’s the developers that are the ones in imminent danger.
- Libby Cherry and Jack Sidders
Vitamin maker Nature’s Care up for sale; KordaMentha on hand
The company’s lenders, led by Singapore’s UOB, have appointed KordaMentha partner Ryan Rabbitt to oversee a potential deal.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Builder blames hidden commissions for his company’s collapse
Home owners were often unaware they were also paying agents’ commissions worth tens of thousands of dollars, the former Chatham Homes owner said.
- Michael Bleby
