Sydney real estate developer Bathla Group collapsed and entered insolvency proceedings on Monday. The collapse of the indebted company leaves around 15,000 homes in limbo and involves a $3.6bn loss. Before entering external administration, Bathla Group had undertaken numerous projects across New South Wales.
Buyers of uncompleted homes face serious concerns as the liquidation process unfolds. The failure of the prominent builder triggered administration proceedings on Monday, putting around 15,000 homes on hold across New South Wales as the liquidation process begins.