Crown Group - Provisional Liquidation

Crown Group, a Sydney-based property developer, entered provisional liquidation on 11 August. Founded in 1996 by engineer Paul Sathio and architect Iwan Sunito, the company’s luxury apartment, hotel and retail developments have become renowned worldwide and it had many major developments underway across Australia and in Indonesia. According to AFR, the two founders had a long-running dispute and had previously attempted on several occasions to reach an out-of-court resolution, but were unable to agree on how to approach the conflict. The court action was initiated to break the deadlock in the company’s operations. Andrew Sallway and Duncan Clubb of BDO were appointed provisional liquidators.