Experience
Cocos Islands Co-operative Society
Cor Cordis was appointed administrator of a co-operative that operates essential services on remote tropical islands located approximately 3,000 kilometres north-west of Perth.
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NetComm Wireless, facing severe financial distress due to unresolved intercompany transactions, declining revenues, and a failed divestment process by its parent company Casa Systems Inc., underwent a rapid turnaround facilitated by Cor Cordis.
Learn moreCor Cordis was appointed administrator of a co-operative that operates essential services on remote tropical islands located approximately 3,000 kilometres north-west of Perth.
Learn moreCor Cordis was appointed administrator of a co-operative that operates essential services on remote tropical islands located approximately 3,000 kilometres north-west of Perth.
Read MoreVoluntary administrators of CRA, the operator of Rocklands Mine near Cloncurry in North Queensland. The appointment followed a period of operational difficulties, including mining underperformance and processing bottlenecks that impacted the company’s viability. Through the effective management of key risks and proactive engagement with stakeholders, a successful restructure of CRA was achieved.
Read MoreCor Cordis was appointed as administrator of ASX-listed Walkabout Resources Limited and its subsidiaries, Walkabout Australia Pty Ltd and Reveal Resources Pty Ltd. The appointment involved navigating several complexities, particularly relating to Tanzanian law, as the group’s key asset was a fully operational graphite mine located in Tanzania.
Read MoreNetComm Wireless, facing severe financial distress due to unresolved intercompany transactions, declining revenues, and a failed divestment process by its parent company Casa Systems Inc., underwent a rapid turnaround facilitated by Cor Cordis.
Read MoreAppointed as voluntary administrators of JobCo Employment Services Inc (JobCo), a sizable charity which was also Registered Training Organisation (RTO).
Read MoreAppointed as administrators to MDC Sheetmetal, a sheetmetal manufacturing business located in the northeastern region of Melbourne.
Read MoreVoluntary administration of a company which operated a restaurant and gin distillery business located on the Victorian surf coast.
Read MoreThe focus for iProsperity was to manage funds and investments, primarily in Australian real estate for wealthy foreign investors. As part of the liquidation process, investigations are currently underway into potential legal claims exceeding $175 million.
Read MoreAppointed by major financier to assist with facility renewal of large domestic and international business. Annual turnover over c$100m and secured facilities of $37m. The engagement incorporated an extensive analysis of industry, risk, financial parameters and management effectiveness against a restructured financial model prepared by the business. As a result, the major financier and business were able to successfully renegotiate the renewal of the facilities to allow for continued trading of the business.
Read MoreA multi-stage advisory engagement in respect of a large construction group (with a debt greater than $300 milllion) 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 of entities within the group.
Read MoreAdvisory services appointed by a major financier to assist with a facility renewal of a renowned apparel business.
Read MoreThe established furniture business was successfully restructured and was subsequently sold in accordance with a deed of company arrangement.
Read MoreWe successfully restructured the business through a deed of company arrangement and ensured 25 stores remained open in Australia, along with 256 staff employed.
Read MoreWe worked with the receivers and managers to implement a transaction to restructure the company. This resulted in the continuation of the mine's operations, securing the continued employment of its employees.
Read MoreDelivered a successful deed of company arrangement process for a SaaS company, which resulted in creditors receiving 100 cents in the dollar.
Read MoreVoluntary administrators for Australia's only rideshare service catering to women and accompanied / unaccompanied child passengers.
Read MoreWe were appointed as voluntary administrators and later liquidators of Acquire Learning, a vocational education student broking and Registered Training Organisation (RTO) group that, at its peak, generated revenues of approximately $130 million and held secured debt of around $40 million.
Read MoreAs administrators, we sold and settled three properties for amounts exceeding their valuations. This led to the full payment to secured creditors with debts amounting to approximately $8m.
Read MoreVoluntary administrators of the Not Quite Right grocery clearance store chain of 18 grocery stores across Melbourne and regional Victoria, with turnover of c. $30m and c. 300 employees. The business was successfully sold as a going concern, thus saving numerous jobs and avoiding substantial losses for landlords.
Read MoreThe successful deed of company arrangement set a precedent for future restructurings within the medicinal cannabis cultivation sector, providing valuable insights and lessons for other companies facing similar challenges.
Read MoreThe mining group made the decision to enter voluntary administration, seeking a solution to safeguard its operations and maximise value for its stakeholders.
Read MoreHomeware brand Ishka was sold as part of a deed of company arrangement approved by creditors.
Read MoreThe restructuring and sale of the companies, facilitated through a deed of company arrangement, delivered substantial contributions of $1.3 million.
Read MoreImproving returns for creditors and preventing a distressed property sale scenario for a group of entities in regional Victoria.
Read MoreThe voluntary administration of a boutique construction and architecture firm operating in Melbourne’s inner south-east. We managed the ongoing operations in order to preserve the value of the business and was successfully able to achieve a restructure by way of deed of company arrangement, thereby maximising the return to the company’s creditors and ensuring continued construction of customer homes and continuity of employment for the company’s employees.
Read MoreAppointed liquidators over five telecommunication entities within the group. Business operations included delivering whole-of-business ICT solutions including voice, mobility, data and internet, managed services and cloud services as well as wholesale telecommunications aggregation, offering VoIP and traditional telecommunications services to its reseller partners. Businesses had been restructured into another entity prior to 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).
Read MoreAppointed as interim Receiver and Manager of the group which operated a telecommunication business providing services to residential and small business customers. The appointment was made to preserve the business and assets and to investigate the transfer of customers out of the business. The investigations determined the business was in a state of attrition and the court ordered it be wound up. Subsequently appointed liquidators and facilitated the sale of the business.
Read MoreDelivered a successful deed of company arrangement which permitted the company to continue to trade and undertake work for the London Olympics. The company was previously the exclusive seating provider for the Sydney Olympics and various Commonwealth Games and also fit out supplier for McDonalds restaurants. Revenue $20 million.
Read MoreVoluntary administration of a mining company with an annual mine production of c.40,000oz. Successful negotiations with a large contractor enabled the company’s operations to be traded whilst a deed of company arrangement restructure and sale of the business was achieved.
Read MoreWe facilitated a restructure of this Aboriginal corporation in negotiation with a range of stakeholders, which provided for the creation of a creditors’ trust to sell the company’s property assets whilst control of the company reverted to the directors. This was instrumental in allowing the business to continue to trade and support the local Aboriginal community.
Read MoreVoluntary administrators of a 21-store apparel retailer operating under a license arrangement with a global car manufacturer. We managed a stock rationalisation program, negotiated a royalty moratorium to ensure employees were paid in full, and significantly enhanced value for secured creditors.
Read MoreLiquidation of a listed MIS promoter and forestry management business. Willmott Forests Ltd held over 56,000 hectares of forestry plantations under management, they had over 6,000 grower investors and syndicated debt of $120m.
Read MoreLiquidation of Gunns Ltd, a listed integrated forestry business and MIS promoter. Gunns Ltd held over 220,000 hectares of MIS plantations under management; they had over 36,000 grower investors and syndicated debt of $340m.
Read MoreKarl Suleman Enterprises was an unregistered management investment scheme with over 3,000 investors. This engagement involved reconstruction of accounts, tracing of assets, litigation against various third parties, detailed investigations, and reviewing and adjudicating on the claims of 3,000 investors. The Liquidation further led to ASIC successfully pursuing and sentencing the director to jail for misleading and deceptive conduct.
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