Craig Crosbie

Partner

Overview

Craig has more than 26 years’ experience advising stakeholders on corporate advisory and recovery matters. He has specialist skills in assessing business performance and strategy, implementing turnaround/workout initiatives, restructuring and formal recovery assignments (receiverships, voluntary administrations and liquidations).

Craig acts for financial institutions and other financiers, as well as company directors and their advisors to identify and implement practical solutions.

Prior to joining PPB Advisory, Craig worked for a large international accounting firm in Melbourne and Sydney.

Recent assignments

  • Administrator of the Hastie group of companies (ASX-listed), including operations in Australia, New Zealand, United Kingdom, Ireland, Middle East and India. The group had turnover of $1.9b and $500m secured debts.
  • Appointed administrator of the Willmott Forest group of companies (ASX-listed) by the Federal Court of Australia. The holding company acted as responsible entity of a number of managed investment schemes, involving investments of $400m and bank debt of $120m.
  • Administrator/liquidator of Bill Express (ASX-listed), which collapsed with $250m of unfunded liabilities.
  • Receiver and manager of Australia Motor Finance group of companies following a $22m fraud.
  • Administrator/deed administrator of Hales Institute, a provider of vocational programs to around 1,000 international students. The company was successfully restructured and sold.
  • Administrator/liquidator of Media World Communications Ltd which collapsed owing investors $35m.
  • Advisor to a financier on the $50m acquisition of a major hotel group.

Qualifications/memberships

  • Bachelor of Business (Accounting/Law)
  • Registered Liquidator
  • Official Liquidator
  • Member of The Institute of Chartered Accountants in Australia
  • Member of Australian Restructuring Insolvency and Turnaround Association (ARITA)
  • Member of The Australian Institute of Company Directors