By NICK WILSON FOR AUSTRALIAN ASSOCIATED PRESS and MAISY RAE – NEWS REPORTER
Published: 09:18 BST, 3 September 2026 | Updated: 17:20 BST, 3 September 2026
Administrators for a major housing developer have met a crucial funding deadline, but negotiations to keep the group afloat remain ongoing.
Insolvency advisory Teneo has been scrambling to secure $20million in short-term funding for the embattled Bathla Group since it entered voluntary administration in late August.
As administrator, Teneo set a deadline of Thursday to secure the cash injection, which is when payroll for Bathla's staff fell due.
On Thursday afternoon, Teneo announced it was yet to secure the short-term funding it is seeking from lenders but enough cash had been found to pay wages accrued since August 25.
The partial payment covers the period since Teneo was appointed administrator, but will not meet all wages owed by Bathla, with some staff having not been paid for weeks.
Administrator Stephen Longley said Bathla's employees had engaged with Teneo constructively, but stressed the payroll target was only the first hurdle.
'The situation is complex,' he said in a statement, adding the short-term funding administrators are still attempting to secure would only afford a few weeks of breathing room.
A Bathla insider told the Daily Mail: 'Truth is they have no bad intentions. They want to survive.'
Bathla Group (above) has received enough funding to cover its costs since it appointed an administrator in late August
Teneo will now set its sights on the first formal creditors' meeting slated for Friday, where those owed money would engage with administrators, he said.
One of Sydney's largest residential developers, Bathla announced it had entered voluntary administration in late August, owing a reported $3.3billion.
The news left countless homebuyers and creditors wondering what it meant for their investments, with staff uncertain whether they would lose their jobs.
A $20million one-month injection would allow administrators to pursue longer-term funding and progress the group's 45 projects under construction.
