Experience

Tikun Oceana Pty Ltd

The successful deed of company arrangement set a precedent for future restructurings within the medicinal cannabis cultivation sector, providing valuable insights and lessons for other companies facing similar challenges.

Learn more

Experience

iProsperity Group of Entities

The focus for iProsperity was to manage funds and investments, primarily in Australian real estate for wealthy foreign investors. As part of the liquidation process, investigations are currently underway into potential legal claims exceeding $175 million.

Learn more

Unlocking future potential for businesses by delivering solutions to complex challenges.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Berndale Group

Forensics
Forensic analysis

The Berndale Group of entities held an AFS license and operated as an over-the-counter derivatives provider in forex trading.

Read More

iProsperity Group of Entities

Forensics
Liquidation

The focus for iProsperity was to manage funds and investments, primarily in Australian real estate for wealthy foreign investors. As part of the liquidation process, investigations are currently underway into potential legal claims exceeding $175 million.

Read More

Zeto Group of Entities

Insolvency
Voluntary administration
Property & construction

As administrators, we sold and settled three properties for amounts exceeding their valuations. This led to the full payment to secured creditors with debts amounting to approximately $8m.

Read More

Acquire Learning

Forensics
Insolvency
Education

We were appointed as voluntary administrators and later liquidators of Acquire Learning, a vocational education student broking and Registered Training Organisation (RTO) group that, at its peak, generated revenues of approximately $130 million and held secured debt of around $40 million.‍

Read More

Shebah Group

Restructuring & Turnaround
Deed of company arrangement
Transport & logistics

Voluntary administrators for Australia's only rideshare service catering to women and accompanied / unaccompanied child passengers.

Read More

SurePact

Insolvency
Deed of company arrangement
Technology

Delivered a successful deed of company arrangement process for a SaaS company, which resulted in creditors receiving 100 cents in the dollar.

Read More

Altura Mining Limited

Insolvency
Restructuring & Turnaround
Mining & resources

We worked with the receivers and managers to implement a transaction to restructure the company. This resulted in the continuation of the mine's operations, securing the continued employment of its employees.

Read More

kikki.K

Voluntary administration
Deed of company arrangement
Retail

We successfully restructured the business through a deed of company arrangement and ensured 25 stores remained open in Australia, along with 256 staff employed.

Read More

Hub Furniture

Restructuring & Turnaround
Deed of company arrangement
Retail

The established furniture business was successfully restructured and was subsequently sold in accordance with a deed of company arrangement.

Read More

Project Travis

Advisory
Business review
Retail

Advisory services appointed by a major financier to assist with a facility renewal of a renowned apparel business.

Read More

Multi-stage advisory for a construction group

Advisory
Financial review
Property & construction

A multi-stage advisory engagement in respect of a large construction group (with a debt greater than $300 milllion) that undertook residential, mixed-use and commercial projects. The engagement included a financial review of operating entities and the preparation of a model to demonstrate the impact of various restructuring scenarios and the impact on intercompany loans between entities within the group.This review enabled the group to negotiate an orderly wind-down and restructure of entities within the group.

Read More

Investigative accounting for an international company

Advisory
Investigative accounting
Telecommunications

Appointed by major financier to assist with facility renewal of large domestic and international business. Annual turnover over c$100m and secured facilities of $37m. The engagement incorporated an extensive analysis of industry, risk, financial parameters and management effectiveness against a restructured financial model prepared by the business. As a result, the major financier and business were able to successfully renegotiate the renewal of the facilities to allow for continued trading of the business.‍

Read More

Voluntary administrators for a marine construction company

Insolvency
Voluntary administration
Transport & logistics

Voluntary administrators of a group of five companies which operated a specialised marine project construction, repairs and maintenance business. On appointment, the group was involved in a number of high profile South East Queensland infrastructure projects. The external administration is ongoing and has involved progressing recovery of a number of complex debtor claims and asset realisations.‍

Read More

Systeck Group Pty Ltd

Insolvency
Liquidation
Mining & resources

Voluntary administration andliquidation of a contract ceiling business with revenues of c$14m and c100 employees working on civil construction and remote mining contracts. We traded the business and negotiated with the principal contractor to preserve contracts and realised the business and assets to payout the secured creditor in full.‍

Read More

Voluntary administrators of a water infrastructure business

Restructuring & Turnaround
Deed of company arrangement
Utilities

Voluntary administrators of a water infrastructure business (revenues of c.$65m), we continued trading to facilitate a sale as a going concern sale and deed of company arrangement restructure (with secured creditors of c.$19m, unsecured trade creditors of c.$12m and employee entitlements of c.$2m).‍

Read More

Forensic financial investigation - fraud and false accounting

Forensics
Forensic analysis
Manufacturing

We performed a detailed investigation of funds and asset tracing, procurement data and stock movements. Our work identified the use of ‘hidden’ bank accounts, false invoices to obtain drawdowns under the factoring arrangement. Indications of collusion with suppliers to purchase non-existent stock and possible money laundering. Our investigations led to identification of ultimate beneficiaries of a scheme operating over several years. Our findings were reported to ASIC, the police and the NSW Fraud Squad.

Read More

Eastcoast

Insolvency
Sale of business
Retail
Property & construction

Improving returns for creditors and preventing a distressed property sale scenario for a group of entities in regional Victoria.

Read More

Sanitation Group

Restructuring & Turnaround
Deed of company arrangement
Equipment & labour hire

The restructuring and sale of the companies, facilitated through a deed of company arrangement, delivered substantial contributions of $1.3 million.

Read More

Ishka

Insolvency
Deed of company arrangement
Retail

Homeware brand Ishka was sold as part of a deed of company arrangement approved by creditors.

Read More

Adaman Resources Group

Restructuring & Turnaround
Deed of company arrangement
Mining & resources

The mining group made the decision to enter voluntary administration, seeking a solution to safeguard its operations and maximise value for its stakeholders.

Read More

Freckleberry

Deed of company arrangement
Sale of business
Manufacturing

Voluntary administrators for a well-known confectionery manufacturer and distribution business based in Geelong. Our strategy resulted in the successful sale of the business.

Read More

Hylenon (Supreme Forks)

Voluntary administration
Deed of company arrangement
Equipment & labour hire

Delivered a successful deed of company arrangement for a forklift and equipment hire business.

Read More

Tikun Oceana Pty Ltd

Restructuring & Turnaround
Deed of company arrangement
Health
Agriculture

The successful deed of company arrangement set a precedent for future restructurings within the medicinal cannabis cultivation sector, providing valuable insights and lessons for other companies facing similar challenges.

Read More

Pre-lend reviews for financiers

Advisory
Pre-lend reviews
Financial & professional services

We regularly undertake pre-lending reviews for tier 1 financiers in the commercial and corporate lending segments. These reviews typically cover operations, detailed financial analysis (i.e. cashflows, profitability, debt service), MIS, management capability, lending purpose, and risks and value add to both the client and the financier.

Read More

Investigative accounting for a dairy operator

Advisory
Investigative accounting
Agriculture

We were engaged by financier in respect of distressed dairy operator with operations across three states with a significant level of creditor arrears and a material funding request. We advised the financier to decline the funding request and to actively monitor the group’s asset sales.

Read More

Expert witness report for a confidential client

Forensics
Expert witness report
Property & construction

Engaged to quantify the loss of profit experienced by the claimant when the contract term was changed and following the alleged implementation of an informal process preventing the claimant from receiving any requests for quotation. We also considered the loss in market value of the business.

Read More

Forensic financial investigation for superannuation fraud

Forensics
Financial review
Financial & professional services

Investigated large-scale superannuation fraud/Ponzi scheme (c. $180m) with the primary person of interest pleading guilty to two charges of dishonesty. The engagement involved untangling a complex corporate structure of over 30 entities registered in Australia and in jurisdictions including Seychelles, Belize and Cayman Islands, and tracing money from bank accounts in Australia to accounts held offshore.‍

Read More

Not Quite Right

Restructuring & Turnaround
Sale of business
Retail

Voluntary administrators of the Not Quite Right grocery clearance store chain of 18 grocery stores across Melbourne and regional Victoria, with turnover of c. $30m and c. 300 employees. The business was successfully sold as a going concern, thus saving numerous jobs and avoiding substantial losses for landlords.‍

Read More

Voluntary administrators for a marine construction company

Insolvency
Voluntary administration
Transport & logistics

Voluntary administrators of a transport and logistics company, specialising in moving complex mining plant and infrastructure in WA. We completed contracts and realised over half the company’s fleet, resulting in the majority of secured debts being paid in full. With the remaining fleet, we transported cargo to Queensland (a stronger market), resulting in creditors receiving a material return.‍

Read More

Traverse Drilling International

Insolvency
Voluntary administration
Mining & resources

Voluntary administration of the holding company of a group of companies providing contract drilling services to mining companies across Fiji, Mongolia, Indonesia and Papua New Guinea (annual turnover exceeding $45m). We managed the sale and international wind down of all assets resulting in a substantial return to creditors.

Read More

Forensic financial investigation - illegal phoenix activity

Forensics
Forensic analysis

Commenced civil proceedings against individuals and entities associated with the illegal phoenix of a business and assets to a related party. Extensive investigations were conducted including asset tracing and public examinations. After reporting the misconduct to ASIC and assisting ASIC with its investigations, the director pleaded guilty to criminal charges.‍

Read More

Saratoga Workforce Ptd Ltd

Forensics
Independent expert report
Equipment & labour hire

Engaged by the liquidator of Saratoga Workforce Pty Ltd, we prepared an expert solvency report on the company to assist the liquidator with establishing his claim for an unfair preference. This included reconstruction of the company accounts to reflect transactions which had not been considered previously. The claim was settled successfully by the liquidator.

Read More

Business stabilisation and debt advisory for a construction group

Advisory
Debt advisory
Property & construction

A multi-stage advisory engagement on behalf of a large civil construction group, involving preparing submissions to key stakeholders to agree a standstill period, undertaking the financial modelling to assess a major infrastructure project, and subsequently securing additional funding to support the infrastructure project. Our role has created value for shareholders.‍

Read More

Debt advisory for a housing manufacturer

Advisory
Debt advisory
Property & construction

Advising a prefabricated housing manufacturer experiencing material sales growth and resulting liquidity issues, we worked with management to help deal with key creditors and assist the company’s debt advisers progress with fund raising and credit requests, resulting in new Tier 1 financier debt facilities being achieved.‍

Read More

Investigative accounting report for an agri-business provider

Advisory
Investigative accounting
Agriculture

We prepared an investigating accountant's report for a financier. This long-standing customer’s business involved potato cropping and food manufacturing and was facing a liquidity crisis following a poorly implemented capital expansion program (secured debt of circa $15 million). We delivered an operational and balance sheet review, guided management to stabilise the business, advised on a deleveraging strategy and introduced a governance structure to reduce risk. The matter also involved sensitively dealing with a difficult customer/family dynamic.

Read More

Receivership of a commercial property

Insolvency
Receivership
Property & construction

Receivership of several commercial properties in South-East Queensland. Many of the sites had high levels of lead and other heavy metals in the soil which required environmental consultancy and remediation. Some properties were also subject to flood damage which required a structural assessment and subsequent demolition. An insurance claim was progressed for the flood damaged site. Following remediation of the sites, sales were achieved at close to double the initial valuation on appointment.

Read More

Voluntary administration of a listed lithium mining company

Insolvency
Deed of company arrangement
Mining & resources

Appointed administrators to a large ASX-listed lithium miner and its subsidiary by the secured financier who held secured debt in excess of US$180m (circa $232m AUD). Two deeds of company arrangement (from separate proponents) were effectuated with the subsidiary’s shares being sold to another listed entity for circa US$179m ($230m AUD) and control of the ASX-listed lithium miner returned to the board of directors.‍

Read More

Financial investigation into a funds management company

Forensics
Investigative accounting
Financial & professional services

Engaged by 255 Finance, an organisation which provided funding to third party financiers, we prepared an independent accountant report on the effectiveness of the company's key controls.

Read More

Financial investigation of a body corporate

Forensics
Financial investigation
Property & construction

Engaged by the Office of the Registrar of Indigenous Corporations, we prepared an examiner’s report on the Corporation documenting our findings in respect of the engagement as set out in the terms of reference.

Read More

Crestal Petroleum Limited

Insolvency
Voluntary administration
Mining & resources

Voluntary administration of an ASX-listed resources exploration company with oil, gas and gold mining assets across Australia, USA, and Madagascar. We successfully achieved a recapitalisation process, and the company executed a deed of company arrangement and a creditors’ trust was established to deal with creditor claims and allow the company to be relisted on the ASX.‍

Read More

Telcollect Group

Insolvency
Receivers and managers
Telecommunications

Appointed as interim Receiver and Manager of the group which operated a telecommunication business providing services to residential and small business customers. The appointment was made to preserve the business and assets and to investigate the transfer of customers out of the business. The investigations determined the business was in a state of attrition and the court ordered it be wound up. Subsequently appointed liquidators and facilitated the sale of the business.

Read More

Planet Tel Group

Insolvency
Liquidation
Telecommunications

Appointed liquidators over five telecommunication entities within the group. Business operations included delivering whole-of-business ICT solutions including voice, mobility, data and internet, managed services and cloud services as well as wholesale telecommunications aggregation, offering VoIP and traditional telecommunications services to its reseller partners. Businesses had been restructured into another entity prior to appointment, whereby the group entities held shares. Current appointment with ongoing review and investigations around the restructure and potential value of any businesses operated within the restructured entity (and ultimate value of shareholdings in same).‍

Read More

Financial investigation into a family dispute

Forensics
Financial investigation
Automotive

A $220m family dispute involving corporate groups and accounting treatments and transactions over 30 years. The engagement required investigations of alleged breaches of director’s and fiduciary duties pertaining to alleged mismanagement and misuse of corporate funds and assets. Our report was tendered in legal proceedings and assisted with the successful defense multiple claims for alleged breaches of duties.‍

Read More

Receivership of a commercial property group

Insolvency
Receivership
Property & construction

The company owned a B-Grade commercial office tower in South Melbourne valued at $95m with a weighted average lease expiry (WALE) of nil years. The property was subject to a first ($115m) and second ($30m) ranking mortgage – total secured debt of $145m with a net asset deficiency of $50m and other loan covenant defaults.

Read More

Voluntary administration of a residential development site

Insolvency
Voluntary administration
Property & construction

An appointment to 10 companies which were part of the Trio Capital Ltd managed investment scheme collapse. The companies collectively owned 12 incomplete property developments in Queensland, New South Wales and Victoria. We successfully achieved the support of all five major banks to obtain development funding, complete all developments (c150 titles) and conduct sale & marketing campaigns (c$120m). Four of the five secured creditors were paid in full.‍

Read More

S & K Group

Restructuring & Turnaround
Deed of company arrangement
Property & construction

The voluntary administration of a boutique construction and architecture firm operating in Melbourne’s inner south-east. We managed the ongoing operations in order to preserve the value of the business and was successfully able to achieve a restructure by way of deed of company arrangement, thereby maximising the return to the company’s creditors and ensuring continued construction of customer homes and continuity of employment for the company’s employees.

Read More

GMK Exploration Pty Ltd

Restructuring & Turnaround
Deed of company arrangement
Mining & resources

Voluntary administration of a mining company with an annual mine production of c.40,000oz. Successful negotiations with a large contractor enabled the company’s operations to be traded whilst a deed of company arrangement restructure and sale of the business was achieved.

Read More

Urban Property Melbourne Pty Ltd

Restructuring & Turnaround
Voluntary administration
Property & construction

Appointed as administrators, trading, and sale as a going concern. The company operates a real estate agency in Melbourne’s inner city. The agency managed residential rent roll predominantly in Melbourne’s inner city, with approximately 270 properties under management.

Read More

Drouin Golf & Country Club

Restructuring & Turnaround
Deed of company arrangement
Property & construction

Voluntary administration of a golf club in regional Victoria. We traded the business and undertook a significant restructure of the business during the VA period. As a result, we accomplished a deed of company arrangement with the club which involved the sale of surplus land (valued at $1.8m) for up to $4.65m, the implementation of a long-term sponsorship agreement and returning the club to a debt-free and fully recapitalised position.‍

Read More

Ramler Holdings

Restructuring & Turnaround
Deed of company arrangement
Retail

Delivered a successful deed of company arrangement which permitted the company to continue to trade and undertake work for the London Olympics. The company was previously the exclusive seating provider for the Sydney Olympics and various Commonwealth Games and also fit out supplier for McDonalds restaurants. Revenue $20 million.

Read More
Scroll to top button