The news: Collapsed property developer Bathla Group’s voluntary administration has been extended until 13 September 2027.
The context: The Supreme Court of New South Wales approved the extension, which will allow the administrators more time to progress construction projects already underway, subject to securing sufficient funding.
Teneo Australia was appointed voluntary administrator of Bathla on 25 August and on 7 September announced short-term funding from five lenders. The funding allows Bathla to continue construction projects associated with the lenders for two weeks. Other construction projects were suspended, and 213 employees were stood down.
What they said: Teneo head of financial advisory Stephen Longley said: “We have…