Director
Krystal Everitt
T:
M:
Melbourne
Her calm and balanced approach has proven effective in guiding businesses through challenging times.
Leveraging over 15 years of diverse experience in personal and corporate insolvency, Krystal brings a unique blend of expertise and empathy to the restructuring field. Her journey has been marked by a decade-long focus on corporate insolvency, during which she has successfully led numerous high-profile restructures, especially in the residential homebuilding sector, through recovery and restructuring phases.
Notable successes include the restructures of Mahercorp, Harmac Group, and Langdon Building, where Krystal has effectively managed teams and worked closely with appointees to ensure successful outcomes, especially under challenging circumstances.
Krystal is a passionate advocate and mentor for women in the industry. Through her roles on the WIRV Committee of Management, including as Treasurer and Vice President, she has actively supported the development and networking of female colleagues, fostering an inclusive environment that encourages skill growth and professional connections.
A volume builder that was facing financial distress as a consequence of fixed-price building contracts, supply and trade shortages and soaring costs. At the time of appointment, Mahercorp had debts of c$58m, over 200 employees, 780 projects underway and a further 1,000 in the pipeline.
Krystal assisted with the management of the business’ trading operations, whilst the business was restructured via a deed of company arrangement, gaining the support of Government stakeholders, customers, creditors and employees.
Mahercorp was successfully restructured, which saw the payment in full of priority entitlements to retrenched employees, c120 employees retain employment with the Company, and over 90% of clients' contracts continue progressing to completion.
Specialist all-female rideshare operation that was ineligible for Government relief during extended COVID-19 lockdowns and ultimately failed to recover from the significant downturn in business during 2020 and 2021 due to lockdowns.
As manager of the trading operations of this specialist rideshare operation during the VA process before transitioning to a Deed of Company of Arrangement, Krystal dealt with all facets of the business and its key stakeholders, including employees, shareholders, state regulators, drivers and secured and unsecured creditors, enabling the business to continue servicing the transport needs of women and children of Australia.
The business was sold and restructured through a deed of company arrangement, enabling the continuation of the business operations and up to 500 drivers retaining employment.
Langdon Building, a leading residential builder in Ballarat, faced severe financial challenges post-COVID-19 due to trade and supply shortages, strict contract terms, and financing delays.
As administrators, Cor Cordis conducted a thorough assessment and paused most constructions, focusing on those near completion. With funding secured and supported by the appointees, Krystal managed the operational activities, including stakeholder negotiations, culminating in a Deed of Company Arrangement (DOCA) proposal, which included cash injections and contract modifications.
This intervention facilitated successful restructuring, completion of customer contracts, retention of key employees, preservation of supplier relationships, and avoided potential liabilities for the Victorian Managed Insurance Authority (VMIA). The comprehensive strategy restored financial stability and positioned Langdon Building for long-term recovery and growth.
