Sterling First’s Bell to Mackay Goodwin

A former director of property management business Sterling First, which entered administration last year, has been contracted to insolvency firm Mackay Goodwin.

Simon Bell was appointed a director of Perth-based Sterling First in August 2018 and was company secretary when it entered administration, according to documents from SAI Global.

Business News revealed the collapse of Sterling First in May 2019.

The Australian Securities and Investments Commission said more than 100 people, mostly retirees and seniors, were impacted.

Mr Bell was also reportedly in a senior role at property developer Westpoint, which hit the wall in 2005.

Mr Bell declined to comment to Business News but wrote about his appointment as a consultant and experience in an email to contacts in recent weeks.

“I have now come full circle from where I started my career with KPMG in corporate turnaround and restructuring,” Mr Bell said.  

“Of course, I now have a further 30 years of commercial experience under my belt including experiencing a voluntary administration from a company’s perspective.

“Mackay Goodwin is one of Australia’s fastest growing firms with offices in Sydney, Melbourne, Brisbane and now Perth.

“With a team of over 40… we are ready to assist in tackling any financial situation.

“The current state of affairs lends itself to companies looking at their current situation and taking advantage of restructuring options in what will be a forgiving environment.

“Given Mackay Goodwin’s minimal footprint in WA, we could be a discrete choice to assist with this process.

“If an associate or client is considering options, I would be happy to have confidential preliminary discussions about the options that may be available and talking through the process associated with each.”

But a Mackay Goodwin spokesperson told Business News Mr Bell's contract had been cancelled after further due dilligence about his history.