Sydney real estate developer Bathla Group went into insolvency proceedings on Monday. The collapse of the indebted company leaves around 15,000 homes in limbo and includes a $3.6bn loss. Before entering external administration, Bathla Group had undertaken multiple residential projects across New South Wales.
Buyers of uncompleted homes face serious concerns as the liquidation process progresses. The failure of the major developer triggered administration proceedings on Monday, leaving around 15,000 homes in limbo across New South Wales as the liquidation process begins.