Bathla Group owes creditors about $3.4 billion — ABC News Australia
Australia’s Bathla Group owes well-known creditors about $3.4 billion. The company’s administrators presented these preliminary estimates at its first creditors’ meeting, ABC News Australia reports.
Debt structure
Of this amount, about $3.08 billion is owed to secured creditors. Bathla Group also owes approximately $145 million to the Australian Taxation Office, $42 million in land tax, and about $130 million to other unsecured creditors.
The group’s wage and pension contribution debt is estimated at about $4 million. The administrators stressed that all disclosed figures remain preliminary.
More current news is available on the UA.News Telegram channel Telegram.
Payments to employees
On September 3, the administrators ensured the payment of wages, but stated that there was a lack of funds for further regular payments to employees.
About 21 employees and subcontractors were temporarily stood down. The situation is planned to be reviewed at the beginning of next week.
