Sydney property builder Bathla Group collapsed and entered insolvency proceedings on Monday. The collapse of the financially troubled firm leaves around 15,000 homes facing an uncertain future and includes a $3.6bn loss. Before going into administration, Bathla Group had carried out multiple residential projects across New South Wales.

Buyers of off-the-plan properties face serious concerns as the liquidation process unfolds. The failure of the major developer forced formal administration on Monday, leaving around 15,000 homes in limbo across New South Wales as the liquidation process begins.