Sydney housing firm Bathla Group went into external administration 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 multiple residential projects across New South Wales.
Buyers of off-the-plan properties face growing uncertainty as the liquidation process progresses. 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.