Crown Group has entered into provisional liquidation, and its co-founders, Iwan Sunito and Paul Sathio, have agreed to put aside a long-running dispute in an attempt to salvage what was once a big real estate developer.

Andrew Sallway, business restructuring partner at BDO, was appointed as the company’s provisional liquidator on Thursday. He will have powers over its assets, which include projects in Sydney and Brisbane worth more than $1 billion, which can be used to pay off loans and unpaid bills.