What happens when a high rise project with multiple blocks failed to obtain strata title? What does that mean to developer, owner and potential buyer?

If unable to obtain due to non-conformance. Just assume advertising was done on the assumption this will be strata titled but due to problems along the way, developer unable to obtain strata title. So the 3 party I've mentioned, dev, owner (those already signed A&P) and potential buyer (those who paid deposit only) what are their foreseen problems? Other than a fucked developer of course.