As the major developer collapsed into administration on Tuesday, it left behind flooded worksites, half-built homes, and buyers unsure about whether their dream homes will ever get built.

The $3 billion collapse of western Sydney property developer Bathla Group is the latest cautionary tale involving the private credit sector.

As the major developer collapsed into administration on Tuesday, it left behind flooded worksites, half-built homes, and buyers unsure about whether their dream homes will ever…