Sydney housing firm Bathla Group went into external administration on Monday. The collapse of the indebted company leaves around 15,000 homes facing an uncertain future and involves a $3.6bn loss. Before entering external administration, Bathla Group had undertaken numerous projects across New South Wales.
Buyers of off-the-plan properties face serious concerns as the liquidation process unfolds. The failure of the major developer triggered administration proceedings on Monday, putting around 15,000 homes on hold across New South Wales as the liquidation process begins.