Sydney real estate developer Bathla Group went into insolvency proceedings on Monday. The collapse of the financially troubled firm leaves around 15,000 homes in limbo and includes 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 growing uncertainty as the liquidation process progresses. The failure of the major developer triggered administration proceedings on Monday, putting around 15,000 homes in limbo across New South Wales as the liquidation process begins.