In both good and bad economic times, sound business management and efficient control of revenue and costs are critical to ensure a solid and sustainable business. At BRI Ferrier we often help businesses restructure so they can survive and go on to thrive. Businesses often tell us they wish they had spoken to us earlier before things became critical for them. It is enormously rewarding to help get a business back on its feet.
Martin is a registered liquidator and a founding principal of BRI Ferrier with over 50 years' experience in insolvency and corporate recovery. Previously, Martin was a partner for five years and chairman for three years of Grant Thornton’s Sydney office. Prior to this, he had been a partner with both Bird Cameron and PKF.
Martin has extensive commercial experience and has been involved in thousands of administrations throughout his career. He is currently a Director of A J Lucas Group Ltd and has held former directorships at Excello Cooperative Ltd (Chairman five years), The National Trust of Australia NSW, The Cruising Yacht Club and Southern Cross Pumps & Irrigation Pty Ltd.
Martin provides services in corporate insolvency, business recovery, business advisory and as an investigative accountant. His wide reaching experience extends across the property, retail, tourism and hospitality, mining, agribusiness and manufacturing industries.
- Appointed voluntary administrator for Seawind Group Holdings, a manufacturer of multi-hull yachts. With falling demand and an appreciating Australian dollar, Seawind was no longer cost competitive. Subsequently, Martin developed and administered a deed of company arrangement which closed the Australian arm of the groups’ manufacturing operations and maintaining the brand, enabled other parts of the group in Asia to continue trading.
- Appointed voluntary administrator to Bevillista Pty Ltd, developers of the Top Ryde shopping centre. The administration subsequently resulted in a creditors trust with the potential to repay creditors 100 cents in the dollar.
- Jointly appointed voluntary administrator and then liquidator of AE&E Australia Pty Limited, a provider of thermal power generation and environmental technology. On appointment, the company had no working capital. Martin subsequently led the restructure of the company’s operations and implemented a strategy to fund completion and thereby preserve the value of AE&E’s major projects which included completion of an $550+ million power station. He also oversaw the sale of the company’s business and assets and paid all monies owning to AE&E’s 450 employees. This role is ongoing.
- Appointed voluntary administrator of The Tile People, a ceramic tile merchant and importer. At the time of appointment, The Tile People were subject to a Supreme Court action instigated by an overseas equity partner. Martin entered into a deed of company arrangement, settled the overseas action, restructured operations, lowered overheads, repaid creditors in full and successfully returned the business to the directors.
- As chairman of Grant Thornton and head of its insolvency team, Martin oversaw the voluntary administration of three labour hire subsidiaries of Patrick Corporation during the Australian waterfront dispute. This dispute was a watershed event in Australian industrial relations history between Patrick Corporation and the Maritime Union of Australia (MUA). After secretly restructuring its operations, Patrick Corporation dismissed its union employees, hired non-union staff in place and liquidated its assets to become technically insolvent. Martin oversaw the subsequent negotiations between the Patrick Corporation and the MUA including the voluntary redundancies of half of Patrick’s workforce. The negotiations successfully appeased both sides of the dispute and contributed to the restructuring of the operations of the Australian waterfront.
- Appointed voluntary administrator, under Ministerial consent of the National Trust of Australia NSW, Australia’s largest conservation body. Restructured the trust’s operations whilst managing the competing interests of stakeholders and successfully protecting the trust’s assets. This included: managing the appointment of a new board and working with the NSW Government to amend the legislation that underpinned the trust’s governance arrangements and its duties and responsibilities as a not-for-profit. Martin continued as a director on the trust’s board for a further four years.
- Appointed administrator by the Tasmanian Government, under Ministerial consent, to restructure the trust’s operations, subsequent to the successful restructure of National Trust of Australia NSW. Oversaw the appointment of a new board and worked with the Tasmanian Government to amend the legislation that underpinned the trust’s governance arrangements and its duties and responsibilities as a not-for-profit. Managed the competing interests of stakeholders and successfully protected the trust’s assets.
Qualifications and memberships
- Registered liquidator
- Fellow, Chartered Accountants Australia and New Zealand
- Member, Australian Restructuring Insolvency and Turnaround Association
"The Tile People Pty Ltd was placed into Voluntary Administration on the advice of our solicitor. We were assured that the man to carry out this job was Martin Green. Martin had a reputation of being fair and of getting the best results possible. From the very first meeting, he made our staff and family feel very comfortable. Working as a team, we have now achieved the best possible results. We have paid out our bank, repaid our final amount to our creditors and have now come out of administration. Martin, may we say thank you for saving our company and most of all for being a nice person to deal with."
The Parsons Family for The Tile People Pty Ltd