The corporate regulator has whacked Adelaide-based private credit firm Angas Securities with interim stop orders for failing to adequately disclose its financial position and its exposure to collapsed developer Bathla.
Bathla’s $3.4 billion collapse in August has left its private credit lenders scrambling to cover their loans. Debt from private credit fuelled Bathla’s rapid expansion, which turned the company into one of the country’s largest developers of affordable housing.
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