Modern Urban Apartment Building In Sydney, AustraliaBackground

  • Management and Letting Rights business located in Brisbane inner city
  • Business failure due to breakdown of the partnership

The Challenge

  • The business was not being run to its full potential
  • Issues with the company’s compliance and obligations under the Management Rights agreement
  • Relationship issues with members of the Body Corporate who were not happy with the on-site manager’s performance

How Pilot Helped

  • The business was reviewed and measures introduced to ensure compliance with obligations under the Agreements
  • Relationships improved with Body Corporate members
  • The business was successfully marketed for sale

Outcomes

  • The business sold as a going concern
  • Employees retained their jobs
  • Dividend was paid to unsecured creditors

Next Steps

Selling a Management and Letting Rights business can be a challenging process. We have experience in this unique area and can assist you with:

  • Providing a complete review of the business and identifying areas of concern prior to sale; and
  • Continued assistance throughout the sale process.

For more information please contact Nigel Markey, Ann Fordyce  or Brad Hellen from our Restructuring division on (07) 3023 1300.