Privium Group Risk Report

🛡️ Financial & Liquidity

Privium Group has faced significant financial challenges over the past few years, with multiple instances of severe financial distress. This has culminated in a voluntary administration and allegations of financial mismanagement. The company's collapse has left many stakeholders, including homebuyers and suppliers, in a difficult position.

• Privium entered voluntary administration 🗓 November 29, 2023, impacting numerous residential building projects.
• Court proceedings revealed 🗓 November 5, 2024, that $20 million disappeared before the company's collapse.
• On 🗓 November 15, 2023, liquidators sought a probe into Privium's $80 million collapse.
• The company was reported to have paid out millions to a Christian charity despite its failing finances 🗓 November 21, 2024.

⚖️ Legal & Regulatory

Privium Group is entangled in various legal challenges related to its financial collapse, including uncovered transactions and disputes over its payout practices. These legal issues have added to the complexity of resolving the company's financial downfall.

• Investigations revealed potentially questionable deals 🗓 December 16, 2021, during Privium’s financial collapse.
• It was reported 🗓 November 17, 2021, that the company’s shareholders received $22 million in dividends amid its financial troubles.

👥 Labor & Workforce

The company's decline led to significant workforce-related issues, impacting employees and subcontractors who found themselves out of work or unpaid. Efforts to manage these outcomes have been complicated by the ongoing financial and legal troubles.

• Privium's collapse 🗓 November 18, 2021, left hundreds of subcontractors out of pocket.
• CEO of the building group faced intense scrutiny 🗓 November 22, 2021, when the company’s downfall left families without homes.

🏗️ Operational & Business Continuity

The financial and legal issues surrounding Privium have inevitably disrupted its operations, leading to a complete halt in its building projects and a severe blow to its reputation.

• Privium shut down 150 projects nationwide 🗓 November 12, 2021, as the firm declared its financial incapability.
• The company’s failure affected over 2000 homebuyers 🗓 November 29, 2021, disrupting planned residential developments.