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Crown Group co-founder Paul Sathio, who lost control of the business when it was pushed into liquidation last year after 25 years of operation, finds himself a further $6 million out of pocket after failing to raise enough funds to buy one of his former companys largest development sites.
Crown Group, founded by Indonesia-born businessmen Iwan Sunito and Mr Sathio, was formerly among the countrys largest private property developers, but a feud between the two founders forced the company into voluntary liquidation last year.
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Read the full article at: https://www.afr.com/property/commercial/crown-group-founder-fails-to-raise-funds-to-buy-back-473-unit-site-20240701-p5jq4r