Lion Property Group Pty Ltd - Provisional Liquidation

Lion Property Group Pty Ltd, a Melbourne-based property developer and investment manager, was placed into provisional liquidation on 2 July, with John Lindholm and Emily Seeckts of KPMG appointed as provisional liquidators.

Lion Property Group was founded in 2018 and has developed several luxury properties across Queensland and Victoria.

The projects were financed using $140-$200 million in investor funds reportedly raised since 2018. A group of these investors alleged that their money had been misused and that Lion Property was operating a Ponzi scheme.

The Court appointed provisional liquidators and ordered that John Sader and Garry Pesochinsky, Lion Property’s founders, be restrained from making decisions about the group. They are accused of breaching various duties to investors.