Updated ,first published
The administrator for collapsed major Sydney developer Bathla has declared its financial situation “very dire” and warned the company would start to be wound up late Tuesday afternoon if it does not get the funding it needs in the coming hours.
Teneo’s Stephen Longley, the administrator for Bathla Group, said administrators were running out of hope for a holistic solution to finish the 45 projects under construction, while NSW Treasurer Daniel Mookhey intervened to call on private lenders to take responsibility for the collapse.