Projects - Asset Restructuring

Baseline Constructions Pty Limited

Restructure of tier 3 builder


  • Sydney, Construction
  • Administrator
  • Financier – AU$3m
  • Employees – AU$500k
  • Unsecured – AU$15m


  • Successful tier 3 construction company operating for over 20 years with over 100 staff
  • Company was unsuccessful in recovering a material insurance claim on a contract resulting from the negligence of excavation and piling contracts that closed a major Sydney arterial road for 4 weeks
  • Loss of litigation and AU$4m in litigation costs resulted in difficulties with cash flow and creditor pressures


  • Negotiated with principals to finalise three active and cash flow positive projects
  • Assisted director to propose a debt compromise to maximise return to creditors
  • Negotiated with secured creditor to compromise and defer claim in favour of unsecured creditors
  • Continued to trade on the business during the administration period to complete projects


  • Recovered bank guarantees within 12 months
  • Employees received 100c/$ of entitlements
  • Return to continuing subcontractors was 100c/$
  • Return to other unsecured creditors was 8c/$
  • Company returned to director

Find out how we can help you and your business - contact us today!