PropertyResidentialThe FinJonathan Shapiro and Primrose Riordan on how Bathla built its property empire, why it all fell apart and why its effects will be felt well beyond western Sydney.The Bathla collapse has sent shockwaves around the construction and private credit industries. Bethany RaeSep 10, 2026 – 5.00amFor years, rising property prices have underpinned enormous wealth creation in Australia. They have also masked a multitude of sins. But then came Bathla.The downfall of the western Sydney developer, which owes over $3.4 billion to more than 40 lenders, has exposed a culture of high-risk borrowing and put the whole industry on notice.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Latest In ResidentialFetching latest articles
Why the Bathla collapse is being compared to the GFC
Jonathan Shapiro and Primrose Riordan on how Bathla built its property empire, why it all fell apart and why its effects will be felt beyond western Sydney.
123 words~1 min read
