Developer Keith Johnson says he can now move ahead with a number of Hunter projects, after his company was given a reprieve by creditors.
A majority opted against the sell-off of the Johnson Property Group’s assets, instead accepting a deed of company arrangement.
The group went into voluntary administration in April, weighed down by loans of more than $100-million.
Mr Johnson says he’ll now negotiate with the O’Farrell Government to slash development infrastructure levies.
The company’s Hunter assets include 8,000 lots at Cooranbong, Lake Macquarie and the lower Hunter, as well as the Trinity Point Marina.
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