Provisional liquidation and stabilisation of Crown Group

Client Crown Group
Industry Property development
Services provided Provisional liquidation, financial and operational stabilisation, asset sale strategy, debt repayment advisory, business recovery and turnaround support
 

Key learnings

  • Owner alignment is critical, a breakdown in governance can be as damaging as financial distress
  • Early intervention and structured asset sales can preserve value and protect creditor interests
  • Experienced advisors are essential in navigating complex ownership disputes and restructuring scenarios.


Our team was appointed to manage the provisional liquidation of Crown Group, a national property development group, following a breakdown in ownership. An internal dispute had paralysed day-to-day operations and severely impacted the business’s relationships with banks and suppliers, threatening its financial stability and long-term viability.

The engagement focused on restoring operational control, generating liquidity, and maximising value through an orderly asset sale process.

We provided business restructuring services, including:

Strategy and restructuring path

BDO implemented a multi-faceted restructuring strategy, including:

  • Stabilising trading operations to restore profitability
  • Selling surplus assets to generate immediate cash flow
  • Executing an orderly sale of development sites to maximise value and repay bank debt
  • Maintaining stakeholder engagement to preserve business continuity.

Outcome

Restructuring delivered strong outcomes, including:

  • All secured and trade creditors repaid in full, including over $250 million in bank debt
  • Business operations were stabilised, preserving value across the development portfolio
  • Relationships with key stakeholders were restored, enabling continued trading and project delivery.

Need help? Contact our business restructuring team to discuss your options.