An Aussie property giant has been thrown a lifeline after creditors agreed to take a substantial cut to save them from liquidation.
Creditors have signed off on a rescue deal with Melbourne-based property developer Bensons Property Group (BPG), settling for half of the more than $811million they were owed.
BPG collapsed in December with 1,300 new homes worth a staggering $1.5billion still under construction.
Among those owed money were builders, other tradies, investors and a number of state government revenue offices.
On…
