Aug 27, 2026 – 10.56amThis week’s collapse of western Sydney-based property developer Bathla has created, in the words of the Australian Securities and Investments Commission chairwoman Sarah Court, the first “real test for private credit”.The Bathla situation is a big deal given the size of its collapse, with $3.5 billion of outstanding debts, the number of funds involved and the degree of complexity given the vastness of the development empire. There’s a lot to get across.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Bathla’s fall has rocked private credit: here are six questions to ask
That failed developer Bathla was a risky and highly geared borrower was known to all in the private credit industry. So why did some lenders take the risk?
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