An investment and funds management group dealing primarily in Australian real estate assets for high net-worth foreign investors. We were appointed over 12 entities with creditors of more than $400 million and minimal tangible assets to realise.

Sara has led the investigations, including all matters relating to funds tracing, claims identification, and recovery action regarding potential claims of more than $175 million. Alongside her team, Sara completed extensive funds tracing revealing material company monies being paid (directly and indirectly) to parties, including large gaming institutions, and the alleged misappropriation of funds by iProsperity’s directors and/or company officers.

She is currently undertaking necessary work to publicly examine several parties and dealing with ongoing litigation to pursue claims.

At its peak, this vocational education student broking and RTO business had revenues of c.$130 million and secured debt of c.$40 million. However, the group became de-stabilised after the government student funding model changed.

After successfully divesting the group’s assets, the Liquidators were funded to continue to thoroughly investigate the affairs of the Acquire Learning Group and pursue several director-related claims and complex shareholder loan trust structures.

Sara managed the investigations and public examinations into the affairs of the Acquire Learning Group, including the complex shareholder loan structures in place. Several director-related claims were pursued, resulting in a material recovery from the Company’s pre-appointment insurance policy.

Appointed over five companies that were special purpose vehicles to undertake property and land development projects in Melbourne, each in their own capacity and as trustees of certain trusts.  At the appointment, restraining and forfeiture orders obtained by AFP under Proceeds of Crime legislation were in place, suspending works and restraining any dealings with the properties (including any sale, mortgage, or subdivision).  

A forensic accounting exercise was required to determine the legitimacy of funds used to acquire properties to ensure such funds were excluded from forfeiture orders in place. Steps were taken to facilitate the sales of three properties included engaging with the AFP and formulating a strategy regarding the restraining orders / POCA proceedings and exclusion applications as they pertained to the Administrators’ ability to deal with and sell the properties and disburse the proceeds to the secured creditors.  With the AFP’s consent, the appropriate court orders were obtained.

The result for the Administrators was the successful sale and settlement of three properties under the Administrators’ control for in excess of valuation, resulting in payment in full to those secured creditors with debts of c.$8 million.

Engaged to prepare a single expert witness report involving the valuation of the parties’ interest in eight entities involved in food manufacturing.

The engagement included, amongst other things, assessing the normalised earnings of the trading businesses, impacts of the loss of customer contracts, restructured operations, and the various dealings between entities within the group.

Engaged to review a single expert witness business valuation report prepared by a third party, which included the valuation of more than 20 entities that operated in the hospitality industry.

The engagement included considering the assumptions made and conclusions drawn by the single expert witness and developing a list of questions to be put to the single expert witness.

A multi-stage advisory engagement in respect of a large construction group (with a debt greater than $300 million) 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 entities within the group.

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 and cloud services, wholesale telecommunications aggregation, and offering VoIP and traditional telecommunications services to its reseller partners.  Businesses had been restructured into another entity before the 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).