Australia Watchdog Probes Bathla as Private Credit Flaws Persist
Australia’s corporate regulator has opened an investigation into insolvent Sydney developer Bathla Group as its latest surveillance showed that poor practices persist in the country’s A$250 billion ($172 billion) private credit industry.
The Australian Securities and Investments Commission (ASIC) has halted Angas Securities from selling two managed investment schemes, the Angas Prime Income Fund and the Angas Direct Mortgage Fund. This action follows concerns that investors may not have been adequately informed about the financial position of Angas Securities and the risks arising from its exposure to the collapsed Bathla Group.
ASIC Commissioner Simone Constant emphasized the importance of clear and timely information about the risks investors face, particularly in situations where private credit loans run into difficulty. The regulator's actions come as Australia's private debt market has been under scrutiny, with ASIC focusing on reviewing issues within the sector.
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- Australia regulator halts private credit fund on Bathla risks businesstimes.com.sg
- Australia Regulator Halts Private Credit Fund on Bathla Risks bloomberg.com
