Projects - Asset Restructuring

National Buildplan Group Pty Limited

Restructure of tier 2 builder


  • Australia, Construction
  • Administrator
  • Debts: Financier ($10m), Employees ($4m), Unsecured ($60m)


  • National, tier 2 non-residential contractor with government accreditations
  • 132 contracts on foot in various stages (including 5 hospitals for NSW Health). All contracts in a loss position
  • 179 staff operated from eight offices across Australia
  • Insufficient cash at bank to trade for a week
  • AU$10m of bank guarantees at risk. Recovery critical to pay employees
  • Principals had terminated all contracts for default


  • Formal debt compromise and recommencement of trading
  • Completed contracts to recover bank guarantees without exposing administrators to possible defect liability
  • Approached six contract principals (for the profitable contracts, two agreed). Facilitated works on two projects (AU$20m of works completed)
  • Negotiated the return of over AU$5m in bank guarantees


  • Negotiated to reduce creditors’ claims by AU$30m
  • Recovered over AU$3m in assets deemed worthless
  • Returned 100c/$ to financier and employees, 4c/$ to unsecured creditors (after a 100% uplift on forecast claims)
  • Company returned to director

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