Inside the mammoth task that could keep Bathla in administration for another year
Residential developer Bathla Group has been granted an extension for its voluntary administration period until September 2027. Administrators are currently managing a complex portfolio of projects and significant creditor claims.
Why it matters
The financial instability of a major developer impacts the housing market and thousands of creditors awaiting project completion.
Residential developer Bathla has about $3.4 billion in currently known consolidated creditor claims. ( AAP: Dan Himbrechts )
Administrators of the Bathla Group have been given up to another year to run the voluntary administration.
The ABC understands the company bank accounts had not been reconciled for some time and may contain about $736 million of overstated inter-company receivables and payables.
Administrator Teneo has secured $4.7 million in initial funding and is continuing talks with lenders about longer-term support.
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Administrators of the Bathla Group have been given up to another year to run the voluntary administration, as they try to secure longer-term funding and work through a sprawling portfolio of property projects and creditor claims.
The NSW Supreme Court on Friday extended the convening period for the administration until September 13, 2027.
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