Australian minister rules out bailout for Bathla Group
An Australian state minister said the government has no plans to bail out debt-ridden home builder Bathla Group, which is facing liquidation risk with thousands of homes under construction in limbo after administrators took control.
An Australian state minister on Tuesday said the government had no plans to bail out struggling home builder Bathla Group, as the debt-laden developer faces the prospect of liquidation with thousands of homes under construction in limbo. Administrators last month assumed control of Bathla, one of the country's largest residential builders, after the company ran into financial trouble.