Overview
- Teneo Financial Advisory Australia was appointed voluntary administrator and has told lenders it needs about $20 million to fund roughly five weeks of construction work.
- About 2,000 homes are currently under construction and roughly 13,000 more sit in Bathla’s development pipeline, leaving many buyers facing delayed handovers and uncertain deposits.
- Contractors and suppliers report unpaid invoices, with one firm saying it was owed nearly $400,000, and legal action by creditors is generally paused while the administration proceeds.
- The collapse has focused attention on non-bank private credit, with 360 Capital disclosing $31.6 million in Bathla-related loans and investors assessing potential wider exposures.
- NSW officials are exploring options to protect buyers and finish projects, including asking rival developers to step in, while outcomes for creditors and purchasers will depend on administrators’ decisions and contract terms.