Bathla Group seeks funds as 2,000 homes sit unfinished in Sydney

Bathla Group's administrators are seeking short-term funding to keep the developer running. But they warn it would only buy weeks to find longer-term money. The company has about 2,000 homes and apartments under construction. These span 45 projects, mostly in western Sydney.

Why it mattersBuyers have been left uncertain about losing deposits. Sub-contractors are owed money, with one kitchen joinery supplier claiming he is owed $750,000. A creditors' meeting on Friday will let those owed money hear from administrators. No decision on the company's future is expected at this meeting.

AustraliaHome buyers across western Sydney, some with deposits of up to $83,000, are left uncertain about whether they will lose their money. Contractors and sub-contractors are also in financial jeopardy, with one kitchen joinery supplier owed $750,000.

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✓ The Sydney Morning HeraldMoney & Work

Bathla Group enters voluntary administration with $3.3bn debt

Bathla Group went into voluntary administration last week. It has $3.3 billion in debts. The building regulator found 12 serious defects in its Kembla Grange development. These include faulty waterproofing that could cause water damage.

Why it mattersBuyers face legal and financial uncertainty while the developer's future stays unclear. Workers' pay relies on securing emergency funding.