Andre Strazdins

Principal

When advising clients facing financial difficulties I strongly believe they need to be made aware of all their options, be they simple or lateral solutions including the potential upsides and downsides. Only then can they be in a position to make an informed decision to achieve the best result given the circumstances. I have no doubt that our local experience combined with the unquestionable expertise of Ian Ferrier and Tony Hodgson, the team at BRI Ferrier can deliver strong results for businesses throughout Australia.

Andre is a registered and official liquidator and founding principal of BRI Ferrier with 25 years’ experience in insolvency and corporate recovery. Prior to specialising in distressed financial management, he spent five years in management accounting as a senior government official. Commencing his insolvency career during the ’90’s downturn, Andre’s involvement with major corporate collapses such as the Bond group of companies provided him with a strong foundation in insolvency. Andre provides services in all aspects of corporate recovery and reconstruction from small family companies to substantial operations employing several hundred people. He has conducted work for all of the major financial institutions within Australia and has extensive experience with business rehabilitation and rescue in the SME market. Andre’s experience extends across a broad range of traditional industries including building, construction, hospitality and agribusiness and has specific experience in restructuring finance lenders such as Harrison Finance, EIL Finance and Excel Finance.

Career highlights

  • In 1998 Andre developed, as the representative of the ICAA and in conjunction with the South Australian State Government, a pilot program to provide business support within the state. As a result, the Business Helpline was established and in 2001 Andre as a network member, received the Prime Minister's Award for Excellence in Business Partnerships.

Experience

  • Appointed administrator to Castellan Plumbing Pty Limited, a commercial plumbing business employing 25 staff. On appointment, Andre traded the business completing 15 commercial contracts in conjunction with managing the Back Flow shop, a retail outlet and pressure testing business. Subsequently, Andre sold the remaining assets, paid all employee entitlements in full and negotiated a partial return to the secured creditor. Further realisations are still underway.
  • Jointly appointed by Westpac Banking Corporation as Receiver and Manager of Timber Tech Engineering Pty Ltd, a manufacturing business supplying specialist equipment to the timber industry. Andre retained the 50- strong workforce and traded the business for five months while it was advertised for sale. Eventually the business was sold to a well-known timber mill and merchant maintaining the business as a going concern and retaining the majority of staff. A substantial percentage owing was subsequently returned to the secured creditor.
  • Jointly appointed as administrator and later Liquidator to Harding and Manning Electrical Pty Ltd, a retailer of 40 years of electrical goods and furniture. Andre traded four stores belonging to the business, while advertising it for sale. He later negotiated a sale of the furniture business, however due to an inability to compete, the electrical division attracted no buyers. Subsequently, Andre reduced stock holdings, fulfilled all employee entitlements, repaid the secured creditor in full, and returned a dividend to unsecured creditors of 75 cents in the dollar.
  • Appointed as joint administrator of Cleco Nominees Pty Ltd, an abattoir, plant and equipment lessor located in the Riverland. Due to licensing issues and quarantine restrictions the operations could not be sold as an abattoir. As such, Andre sold the land and auctioned the plant and equipment. He paid the first and second secured creditors in full and the third secured creditor received a partial distribution.
  • Appointed as joint administrator of MWM Freight Pty Ltd, a nationwide transport business with a fleet of 25 trucks in Adelaide, Melbourne and Sydney. Andre arranged for an orderly wind down of the business and auctioned all assets returning 100 cents in the dollar to employees and 45 cents in the dollar to the secured creditor.
  • Appointed as administrator to CJ Retsas Pty Ltd, a South Australian commercial crayfish and shark fishing business. As the receivers sold the company’s licenses effectively prohibiting further trade, Andre sold key assets. Subsequently, creditors were paid 100 cents in the dollar with the Director retaining all of his craypots, nets, a vessel and pertinent equipment to continue commercial fishing with another operation.

Qualifications and memberships

  • Registered and official liquidator
  • Member, CPA Certified Practising Accountant Australia
  • Member, TMA Turnaround Management Association
  • Member, MICM Australian Institute of Credit Management
  • Member, Insolvency International
  • Fellow Member, FIPA Institute of Public Accountants
  • Associate Member, Chartered Accountants Australia New Zealand
  • Member, Australian Restructuring Insolvency and Turnaround Association
  • Post Graduate Diploma in Accounting – Flinders University
  • Bachelor of Arts in Economics – Flinders University
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