Real Estate Assets Limited Group - Australian Subsidiaries
Case information
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Simon Cathro was appointed as Voluntary Administrator of six companies (NRH, NRP, AHA, HPIP, HPIA and Ce'Nedra) on 27 August 2008. Subsequently, on 12 December 2008, Simon Cathro and David Lombe were appointed Liquidators by resolution of the respective creditors of each of the companies (NRH, NRP, AHA, HPIP, HPIA and Ce'Nedra). Simon Cathro and David Lombe were also appointed as Official Liquidators of SPAC on 15 December 2008 after a successful winding up petition by Ce'Nedra. In addition, David Winterbottom and Robert William Hutson of KordaMentha were appointed as Receivers and Managers of the REAL Group on 14 May 2008. These companies were Australian subsidiaries of Real Estate Assets Limited a New Zealand based company. Prior to the Voluntary Administration and Receivership the REAL Group was running three hotels in Australia under the "Courtyard by Marriott" brand. The REAL Group's hotels were as follows;
The Receivers continued to trade the businesses and advertised the businesses for sale. The Receivers subsequently sold the Surfers Paradise Hotel (November 2008) and the North Ryde Hotel (December 2008) before handing control of the Parramatta Hotel over to the Liquidators on 1 April 2010. The Liquidators subsequently sold the Parramatta Hotel on 18 October 2010. The Liquidators are currently finalising some outstanding legal matters so that the Liquidations can be finalised and a dividend paid where appropriate. |
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