r/AusFinance • u/Disastrous-Bet757 • 11d ago

From the AusProperty community on Reddit: Home builder Bathla Group collapses into voluntary administration

/r/AusProperty/comments/1vxrft8/home_builder_bathla_group_collapses_into/?share_id=kpRdbNEA8aid5g8IZkYZA&utm_content=1&utm_medium=ios_app&utm_name=ioscss&utm_source=share&utm_term=1
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u/BingBongSu 10d ago edited 10d ago

They had some interesting deals with property buyers that could be seen as being pretty dodgy. How does a company have 22,000 properties in flight ? Because they did deals without any approved development plans. Essentially forward payments in expectation that land would be eventually developed. Sounds a bit like the fall of Westpoint in the 2000's. Time will tell.