John Carrello

Principal

Clients choose to work with me due to my straight forward approach to business. My goal with each client engagement is to deliver practical, clear and effective solutions.

John is a registered and official liquidator with 24 years experience in corporate recovery and insolvency. In February 2010, John joined BRI Ferrier and formed BRI Ferrier Western Australia. Before joining, he headed his own independent insolvency practice Carrello Partners. Prior to this John had been a Partner at Grant Thornton, PKF and Dickson Carrello Insolvency Practitioners. John provides services in company insolvency, business recovery, personal insolvency and business advisory. He also conducts investigative accountant assignments and has specific expertise in facilitating and executing turnaround strategies. He has a deep understanding of the issues and complexities of the Perth market and works predominantly with small to medium sized family owned businesses across the property, financial services, retail, tourism & hospitality, agribusiness, mining and manufacturing industries. Every year, John gives back to his local community through undertaking two to three pro-bono cases. He is committed to providing services to those who cannot afford recovery or insolvency services advice. His dedication to helping those in hardship helps his practice to retain its sense of community.

Experience

  • Appointed voluntary administrator to Wastemaster Pty Ltd, a manufacturer and repairer of Waste Control Equipment & Containers. Through developing and administering a deed of company arrangement, John successfully completed $3 million of work in progress, sold an associated large commercial property and repaid all monies owing to employees and secured creditors.
  • Appointed voluntary administrator and then Liquidator to The Merchant Tea and Coffee Company, a WA based franchise of 10 cafes. John negotiated the sale of the master franchise which continues to trade as a viable going concern.
  • Appointed voluntary administrator of a WA abalone farm, a locally based onshore abalone farming facility. John developed and administered a deed of company arrangement and through negotiating with various government bodies and creditors, maintained its viability preserving a business within an iconic Australian industry.
  • Appointed voluntary administrator and then Liquidator to Timescope Pty Ltd, a property developer. Due to the breakdown of relations between the vested parties, progress of their latest development had faltered. With 17 secured creditors, John successfully negotiated with all parties, restructured the land into 40 lots and completed the development. John distributed a 100% return and 30% return to the first and second charge holders respectively.
  • Appointed voluntary administrator to Redman Drilling, a mining contractor in Kalgoorlie Western Australia. With creditors owed $1.7 million, over a two year period John developed and administered a deed of company arrangement. In addition to implementing sound management and accounting controls, John successfully recovered key assets through the courts. With the successful execution of his turnaround strategy, he subsequently repaid creditors 100 cents in the dollar and returned the company to the director to resume profitable trading.
  • Appointed administrator and then liquidator of Knightsbridge Finance Pty Ltd, one of the largest mortgage brokers and mortgage investment managers in WA. Knightsbridge had approximately $21 million invested in their mortgage schemes through one ASIC registered managed investment scheme involving several hundred investors. John initially managed the schemes on a care and maintenance basis with funds provided by the WA Government through the Finance Brokers Supervisory Board. John recovered key debts and returned either 100% of capital or 100% capital and interest to creditors.

Qualifications and memberships

  • Registered and official liquidator
  • Member, Australian Institute of Credit Management
  • Member, Chartered Accountants Australia and New Zealand
  • Member, Australian Reconstruction Insolvency and Turnaround Association
  • Member, Institute of Directors
  • Bachelor of Commerce – The University of Western Australia
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