Highly leveraged developers operating on thin margins could be the next casualties from the "washout" occurring in the off-the-plan apartment market following the implosions of the Ralan and Steller groups, insolvency and restructuring expert David Walter has warned.
"There may well be other developers to follow [Steller and Ralan] of different shapes and sizes," Mr Walter, a partner at law firm Baker McKenzie, told AFR Weekend.
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Larry Schlesinger was a reporter at The Australian Financial Review.
Michael Bleby covers commercial and residential property, with a focus on housing and finance, construction, design & architecture. He also dabbles in the business of sport. Based in Melbourne, Michael is on Bluesky @michaelbleby.bsky.social. Email Michael at mbleby@afr.com
