Our extensive, specialist experience and broad network enables us to develop innovative and cost-effective distressed management solutions that minimise the fallout of insolvency.
Our distressed management/insolvency services include:
- Voluntary administration
- Creditors’ voluntary liquidation
- Court liquidation
Coomera Waters Village and Resort Pty Ltd
476 hectare estate on the Gold Coast c 1,500 lots 70% of which had been sold. Also included commercial buildings, a marina, future stages and a management business. Two lenders involved over different assets. Managed retail precinct, marina and management business and sale of completed lots. All assets sold above valuation.
Coral Cove Development No.4 Pty Limited
Master Planned Estate of 203 hectares in Bundaberg QLD which included a PGA 18 hole golf course operating at a loss. Complicated asset which led to various purchasers withdrawing during due diligence period. Completed sewerage works, restructured golf course and eventually sold the whole asset which resulted in a part repayment of senior debt within 18 months.
SOHO Rockdale (NSW) Pty Limited
Mixed use development of 2 residential towers over shops and 4 levels of basement car parking. Misappropriation of GST refunds, builder ceased work and refused to come back to site. Mediated with JV parties and negotiated with builder to return and complete works. Negotiated with mezzanine lender which allowed the development to come out of receivership.
Outrigger Resort Hotel
Appointed over 104 rooms in a 414 room, 4.5 star hotel in Surfers Paradise. Limited market interest, cash flow positive but negligible returns. Sold some suites on an individual basis and then identified an off-market in one-line purchaser for the balance. Sold at a premium to valuation.