Sydney real estate developer Bathla Group went into external administration on Monday. The collapse of the financially troubled firm leaves around 15,000 homes facing an uncertain future and involves a $3.6bn loss. Before entering external administration, Bathla Group had undertaken numerous projects across New South Wales.

Buyers of off-the-plan properties face growing uncertainty as the liquidation process progresses. The failure of the prominent builder forced formal administration on Monday, leaving around 15,000 homes on hold across New South Wales as the liquidation process begins.