Bathla’s co-founder gave personal security on loans despite having little to his name. The developer’s demise may result in those creditors pursuing him for bankruptcy.

Private credit firms tell us it’s how they deal with moments of distress that sorts the wheat from the chaff. The situation at Bathla will put that to the test.

Construction on the company’s projects will grind to a halt if funding is not secured by Monday, administrators told a meeting of creditors on Friday.