Manufacturing

At BRI Ferrier we understand the difficult economic climate for Australian manufacturers. Our extensive manufacturing experience includes work with power generation, engineering, plastics, steel, petrochemicals, cardboard, furniture and other businesses, their advisors and stakeholders.

We help guide manufacturing businesses through challenges by negotiating with key stakeholders, reconstructing finances, streamlining operations, reducing costs and enhancing the value of existing assets.

If reconstruction is not a viable option, we can also assist with formally winding up businesses.

 

KEY PEOPLE

CASE STUDIES

AE&E Australia

BRI Ferrier was jointly appointed as voluntary administrator and then liquidator of AE&E Australia Pty Ltd, a provider of thermal power generation and environmental technology. The company had no working capital and was midway through the construction of a $550+ million power station in Western Australia for BHP Billiton’s alumina site. In addition, AE&E was guarantor for a €300 million loan for its Austrian parent. We oversaw the sale of the company’s business and assets and have initiated legal proceedings against a former AE&E client to recover debts of $120 million.

Albo Marine

Albo Marine Pty Ltd, an aluminium boat manufacturer, appointed BRI Ferrier as voluntary administrator. Through a deed of company arrangement, we restructured operations and oversaw the company’s profitable trading for two years, while a percentage of profits were contributed to a deed fund for the benefit of creditors. We returned a profitable business back to the director’s control.

Plastics recycling plant operator

BRI Ferrier was appointed as receiver over two companies that operated a major plastics recycling plant. The receivership involved investigation and resolution of third party claims to security over, and ownership of, company assets; competing claims on intellectual property; and the proportion of ownership of assets by the two companies. The assets of the companies were sold to another large recycling firm and the funds were distributed, with the court’s approval, to relevant parties.

SA Ships

BRI Ferrier was appointed as liquidator to SA Ships, a ship-building company that had continued to trade while insolvent. Of the five liable directors, BRI Ferrier secured settlements with four of them and led the prosecution of Scott v Williams and Anor, which judged the fifth director guilty of insolvent trading. At the time, this was one of the most significant insolvent trading claims in Australia.

Petrochemical company

A substantial petrochemical company in Hong Kong appointed BRI Ferrier as receiver and manager. We continued to trade the business and will do so into the foreseeable future. To maximise recoveries for the secured creditor, we are exploring the potential for selling the business as a whole.

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