Bathla collapse puts Sydney home buyers, contractors and lenders on edge
One of Sydney’s biggest residential developers has entered administration with more than $3 billion in liabilities, leaving the fate of projects, settlements and off-the-plan buyers in the hands of administrators.
'A perfect storm of circumstances' has been attributed to Bathla's lapse into administration. (Image source: Bathla/Instagram)
Bathla Group, one of Sydney’s most prolific developers of lower-cost housing, has fallen into voluntary administration after a mounting financial crisis engulfed its sprawling property empire.
Advisory firm Teneo has been appointed administrator of Bathla’s main corporate entity, Universal Property Group, as well as Raj & Jai Construction, the company responsible for construction across parts of the group’s development pipeline.
The adminis…
