Bensons Property Group called in administrators on the day a fund managed by Macquarie Private Bank’s former head Guy Hedley tipped the developer with a near $1.5-billion pipeline into receivership.
The Melbourne developer – which has total debts of about $812 million according to documents filed to the corporate regulator – went into voluntary administration on December 27, the same day QCAX Australia Property Income Fund II appointed receivers to Bensons to protect the repayment demands of its investors.
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