This matter involved 14 properties located throughout Australia with a combined market valuation of $16m.
The financier made demand for repayment of circa $12m and the company subsequently defaulted on the loan.
PPB Advisory’s role involved:
- property realisations
- review of commerciality of leases
- property maintenance
- rental collections
- payment of property outgoings, and
- the negotiation on a GST ruling in regard to property sales, income and outgoings.
Five properties were successfully sold to deliver a return to the financier and a favourable GST ruling was obtained.