Sydney housing firm Bathla Group went into insolvency proceedings on Monday. The collapse of the financially troubled firm leaves around 15,000 homes in limbo and involves a $3.6bn loss. Before going into administration, Bathla Group had carried out numerous projects across New South Wales.
Buyers of uncompleted homes face growing uncertainty as the liquidation process progresses. The failure of the prominent builder triggered administration proceedings on Monday, leaving around 15,000 homes on hold across New South Wales as the liquidation process begins.