Sydney developer Bathla collapses owing billions

Major Sydney property developer Bathla has entered voluntary administration with liabilities estimated at more than $3 billion across a group of 400 companies. The collapse affects 22,000 apartments and more than 3,000 houses in the pipeline, leaving thousands of buyers in limbo, particularly in Sydney's south-west, north-west and Hunter regions. Administrators Teneo have moved into the Girraween headquarters to stabilise the business and attempt to continue construction activity and property settlements. See omnystudio.com/listener for privacy information.