Sydney real estate developer 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 numerous projects across New South Wales.

Buyers of uncompleted homes face growing uncertainty as the liquidation process progresses. The failure of the prominent builder forced formal administration on Monday, putting around 15,000 homes in limbo across New South Wales as the liquidation process starts.