Crown Group co-founders Iwan Sunito and Paul Sathio are one step closer to finalising their ugly divorce as assets are carved up between them or put up for sale.

The private developer, founded by Mr Sunito and Mr Sathio, had built a real estate empire with major projects in Sydney and once held ambitions to expand to Los Angeles and Jakarta. But the bitter feud between the Crown co-founders left the company adrift and eventually led to it falling into voluntary administration.