Bathla Group places 45 projects in limbo as insolvency administrator seeks funding for construction
Property developer Bathla Group entered voluntary administration with two-thirds of its staff stood down. Its administrator confirmed building could continue only on projects funded by five major lenders.
Bathla Group, an embattled property developer currently under voluntary administration, has left dozens of customers uncertain about their homes. The company announced the suspension of operations after standing down approximately 213 of its 350 employees. Among its 45 active construction projects, details remain unclear regarding which sites will resume work due to short-term funding lifelines secured on Monday. Administrator Teneo confirmed that construction would proceed for five projects commissioned by specific lenders. However, customers like Casey remain stuck in limbo as her unit reaches only the 'gyprock stage.' Chris Baskerville of insolvency firm Jirsch Sutherland stated that any projects reaching 80 percent completion or above might be prioritized if further funding is secured within the next fortnight.
