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‘It didn’t surprise me one bit’: Inside the collapse of developer Bathla
Long before $3.4 billion in debt brought down one of Australia’s largest residential property empires, Craig Walker saw the cracks forming from the inside.
As a former site foreman for Western Sydney developer Bathla Group, Walker witnessed firsthand the aggressive cost-cutting culture that preceded one of the most catastrophic corporate failures in Australian housing history.
Now, as administrators wade through a tangled web of 500 subsidiaries, 200 stalled projects, and a pipeline of thousands of unfinished homes across New South Wales and Victoria, Walker is speaking out about the internal reality of an empire built on sand.
"It didn't surprise me one bit," Walker says of the collapse.
Private lenders scramble to recover funds after Bathla collapse
Private credit lenders of Bathla Group are striking deals to recover debts following the property giant's collapse. (ABC News: Berge Breiland)
La Trobe Financial has sold its senior loan facility, tied to a Bathla Group development, to investors through a fund managed by 360 Capital.
The $31.2 million purchase would give 360 Capital greater influence over the Marsden Park project.
The fallout from the collapse of property developer Bathla Group continues to reverberate through Australia's private credit market, with lenders taking matters into their own hands to recover money tied up in the failed construction giant.
In one of the latest deals, property investment and funds management group 360 Capital has revealed it acquired a senior loan facility for about $31.2 million through its private credit fund, funded by private investors and entities within the 360 Capital group.
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