EXPRESSION OF INTEREST - COMMITTEE OF INSPECTION
Bathla Group Creditors
Are you owed money, or financially exposed to the collapse of the Bathla Group?
We are inviting construction trades, subcontractors, suppliers, consultants, investors and financial professionals representing investors to register interest in a coordinated creditor group seeking representation through a Committee of Inspection (COI). Homeowners and purchasers who have paid deposits are also welcome to register.
Public reporting places Bathla Group-related debt and financial exposure at approximately $3.6 billion, with the final amount still being established.
For creditors, the key questions are simple:
Where did the money go?
Who benefited?
What assets remain?
What transactions should be investigated?
What can potentially be recovered?
Our objective is to organise creditors, obtain information, follow the money and ensure creditor interests have a strong voice throughout the administration.
WHAT IS A COMMITTEE OF INSPECTION?
Are you owed money, or financially exposed to the collapse of the Bathla Group?
A Committee of Inspection (COI) is a formal creditor committee created under Australia’s insolvency laws creditors acting together as a group, similar in concept to forming a class, though it is not a class action and not itself a lawsuit.
Rather than each creditor individually trying to understand a complex collapse, a COI can work directly within the insolvency process seeking information, requesting reports and documents, raising questions, monitoring investigations and pushing for further action.
WHAT CAN THE COI INVESTIGATE?
A major focus is understanding where the money and assets went and whether related parties or directors should be pursued.
Money and assets
Movement of money between Bathla companies
Payments to directors, shareholders or related parties
Asset, property, project or contract transfers
Loans to directors or associated companies, and amounts owing back
Substantial payments made before administration
Lenders, securities, and when they were granted, and who ranks ahead for payment
Suspicious or unexplained transactions and possible misuse of funds
Related parties
Transactions involving directors, shareholders, related companies, trusts, family members, associated entities, financiers or other recipients of money or assets can be examined who benefited, why were they paid, what did the company receive in return, was it commercially reasonable, and can the money or assets be recovered? Where a proper claim exists, a liquidator may be able to pursue related parties to recover value for creditors.
Directors, personally
Potentially where the evidence and law support a personal claim. Did the company trade while insolvent? What did directors know? Were funds misused or assets transferred while creditors remained unpaid? Were directors’ duties breached? Was there dishonest, fraudulent or criminal conduct? Where personal liability is established, recovery may potentially extend to personally owned assets such as property, shares, investments, cash or interests in other companies.
What happened? Where did the money go? Who received it? What can be recovered?
WHAT CAN THE COMMITTEE DO?
The COI can help creditors actively participate in the insolvency process. It can:
Request information - seek reports, documents and explanations from the external administrator
Follow the money - seek details of payments, transfers, loans and asset movements
Investigate who benefited - raise questions about directors, related parties, lenders, companies and other recipients
Push for further investigation - seek deeper review of suspicious transactions, misuse of funds, potential fraud or criminal conduct
Seek specialist assistance - support the use of solicitors, forensic accountants, insolvency specialists, investigators and asset-tracing professionals
Consider public examinations - push for formal examinations where evidence or transactions require closer investigation
Consider recovery proceedings - ask whether related parties, directors or other recipients should be pursued for recoverable money or assets
Escalate serious matters - provide relevant information to the administrator, ASIC, police or other authorities where appropriate
WHY ACT AS A GROUP?
Different creditors often hold different pieces of the same story. A supplier may know what happened on one project. A contractor may know when payments stopped. An investor may hold information about a company or transaction. A financial adviser may hold funding documents. Another creditor may know who received a particular payment.
Combined, this information may help identify where money and assets went, who benefited, suspicious or related-party transactions, and recoverable assets or claims. That is the advantage of creditors acting together.
WHAT ARE WE TRYING TO ACHIEVE?
We want answers, including: how much is really owed; what assets remain; where the money went; who received substantial payments; whether funds were moved between Bathla companies; whether related parties benefited; whether assets or projects were transferred; whether some parties were paid while others remained unpaid; what security was given to lenders and when; whether company funds were misused; and whether matters should be referred to ASIC, forensic investigators or other authorities.
There is no guaranteed recovery in insolvency. Our objective is to place participating creditors in the strongest practical position by seeking:
Information - understand the real financial position
Transparency - understand where money and assets moved
Investigation - examine transactions and conduct requiring explanation
Recovery - identify money, property, claims and other value that may be recoverable
Accountability - ensure credible evidence of misconduct is properly examined and referred
Representation - give creditors an organised voice
Influence - help creditors understand and respond to proposals for the companies’ future
The objective is not simply to watch the administration happen. It is to understand what happened, identify what may be recoverable, and push for the best available outcome for creditors.
INFORMATION, ASIC, AUTHORITIES AND MEDIA
CRP will maintain an information channel for creditors to provide documents, records and evidence. Where lawful and appropriate, information may be used to assist the external administrator, support further investigation, assist legal or forensic professionals, and be provided to ASIC, police or other authorities to identify potential recoveries or suspicious, fraudulent or criminal conduct.
CRP may also communicate with news organisations and journalists covering the Bathla collapse to provide factual updates, creditor perspectives and matters of legitimate public interest. Confidential, privileged or legally restricted information will not be released publicly where disclosure is prohibited or inappropriate.
You, your company, identifies, and situation are kept confidential at all times unless required to be disclosed to the administrator for the benefit of your recovery.
WHO CAN REGISTER?
Construction Trades & Subcontractors - trades and contractors owed money for work performed
Suppliers & Service Providers - businesses that supplied materials, equipment, labour or professional services
Investors - private investors and entities financially exposed to Bathla companies or projects
Financial Professionals - advisers or representatives acting for affected investors
Homeowners & Purchasers - people who paid deposits or have unfinished homes or developments affected by the administration
Other Creditors - any party that believes a Bathla Group entity owes them money or has another financial exposure
WHAT DOES IT COST?
The EOI stage allows us to determine the number of participating creditors and the approximate value of claims. A final schedule of rates will be issued on 18 September 2026. The proposed structure will be:
Fixed Fee
Scaled according to the amount owed
Proportionately lower for smaller creditors
No additional general participation fee during the agreed term
Optional investigations, litigation, examinations or specialist services outside the agreed scope may be separately funded by creditors who wish to participate.
HOW LONG WILL THE GROUP OPERATE?
The administration may resolve quickly or continue for months. Our expected creditor facilitation and support term is:
Up to 12 Months — Initial term
+ 6 Months — No additional fee
This allows time to assess proposals, investigate relevant matters and pursue appropriate creditor outcomes.
WHO WILL LEAD THE GROUP?
Larry Kaine
Managing Partner, Corporate Recovery Partners Pty Ltd. Lead Facilitator. Larry will coordinate creditors, communications, information gathering and formation of the group. Larry’s role is debt recovery.
Richard Rohrt
Principal of Kennedy Ryan Advisory Pty Ltd. Proposed Formal Chairperson / Insolvency Lead. Richard’s role is to ensure the Administrator, Deed Administrator, Receiver or Liquidator/s are following the correct insolvency laws.
Legal services are likely to be provided by Mills Oakley, SLF Lawyers, Somerville Legal or another firm, to be determined during the COI process and subject to any conflict of interest.
Formal appointments remain subject to the applicable insolvency process, creditor resolutions and required professional consents.
HOW WILL WE COMMUNICATE?
During formation, CRP will contact participating parties individually where practical. If registration numbers are high, dedicated group briefings may be created for Trades & Contractors, Suppliers, Investors & Financial Professionals, and Homeowners & Purchasers.
Communication during the engagement may include phone, email, SMS, WhatsApp, creditor updates, group calls, meeting and voting updates, and investigation updates where appropriate. A dedicated information and evidence channel will also remain open.
HAVE INFORMATION ABOUT BATHLA?
We encourage creditors to provide relevant information, including invoices, contracts, payment records, bank transaction information, emails and messages, project records, investment or finance documents, information about related companies or asset transfers, and any unusual or suspicious transactions.
This information remains illustrative for the formation of the COI only and we will not provide advice unless formally requested, in which case a licensed and authorised party may be nominated to provide professional advice or opinion.
REGISTER YOUR INTEREST
EXPRESSION OF INTEREST
EOI CLOSES 18 SEPTEMBER 2026
IMPORTANT DISCLAIMER
Corporate Recovery Partners Pty Ltd (CRP) is a commercial debt recovery, creditor representation and corporate recovery firm. CRP is not a law firm and does not provide legal, financial, investment, accounting or taxation advice. CRP does not hold an Australian Credit Licence or Australian Financial Services Licence and does not provide consumer credit services, financial products or financial product advice. Where licensed or regulated services are required, CRP works with appropriately qualified professionals, including solicitors, registered liquidators, bankruptcy trustees, accountants, forensic accountants and other authorised advisers.
Information on this page is general and may include preliminary information, creditor information, public records and media reporting. Figures and allegations may change as the administration progresses. References to possible fraud, criminal conduct, misuse of funds, suspicious transactions, director liability, related-party recoveries or other wrongdoing are matters that may warrant investigation and are not findings or allegations against any particular person or entity. Submitting an EOI does not guarantee formation or membership of a Committee of Inspection, recovery of any debt or investment, commencement of litigation or investigation, regulatory action or any particular insolvency outcome.
Personal assets of directors are not automatically available to creditors. Any recovery against a director, related party or other person requires a proper legal basis and applicable recovery process. CRP's role is to facilitate, coordinate and represent participating commercial creditors and stakeholders. Before any paid engagement begins, CRP will issue a separate Terms Sheet / Engagement Agreement setting out its scope, fees, obligations and any services to be undertaken by licensed or authorised providers. Information provided by creditors may require verification before it can be relied upon or disclosed. Where lawful and appropriate, relevant information may be provided to insolvency practitioners, professional advisers, ASIC, police, other authorities or media organisations covering the collapse. Nothing on this page is a financial product, financial product recommendation, legal advice or guarantee of recovery. Participation is voluntary and parties should obtain their own independent professional advice where appropriate.
AS A GROUP, CREDITORS MAY SEE THE BIGGER PICTURE.
Where did the money go?
Who benefited?
What assets remain?
What should be investigated?
Who can potentially be pursued?
What can be recovered?