Ben Crilly is a director and head of Indonesia, based in the Jakarta office. He has over 16 years’ experience specialising in the fields of restructuring and turnaround in Indonesia, Singapore, Malaysia, PRC and Australia.

Ben advises onshore and offshore corporates, borrowers, banks and funds in respect of local and complex cross border financial and operational restructurings and transactions in Indonesia.  In recent years, Ben has been involved in almost all of the major debt restructurings in Indonesia, with an aggregate debt value of over USD25 billion.

Prior to joining Borrelli Walsh (now Kroll), Ben was Senior Director at a specialist restructuring firm based in Singapore. Prior to that, he was the Investment Manager for a private equity fund based in Australia and an Associate Director in the Transactions and Restructuring team at a big 4 firm.

Ben is a Chartered Accountant and has a Bachelor of Commerce from the University of Western Australia.

Professional Affiliations and Academic Qualifications
  • Member of the Institute of Chartered Accountants Australia and New Zealand
  • Member of the Turnaround Management Association
  • Bachelor of Commerce, University of Western Australia


Selected Experience
  • Financial Advisor to the Lenders of Sritex, an Indonesian textile company, in respect of a restructuring of approximately USD1.1 billion in syndicated loan and certain bilateral debt facilities.
  • Financial Advisor to the senior syndicate lenders to Bermuda and Hong Kong-headquartered satellite operator, Asia Broadcast Satellite, in respect of a restructuring of approximately USD500 million in senior and mezzanine debt facilities.
  • Financial Advisor by a group of 33 syndicated and bilateral lenders to Duniatex, an Indonesian textiles group consisting of 6 entities engaged in spinning and weaving manufacturing, which defaulted on secured debt in excess of USD1.5 billion and entered a court supervised restructuring in Indonesia (PKPU) with moratorium and recognition proceedings in Singapore and the United States.
  • Financial Advisor to a group of aircraft lessors to Lion Air Group, an airline group operating in Indonesia, Malaysia and Thailand. 
  • Financial Advisor to PT Bumi Resources Tbk, in respect of on a restructuring of the company’s debt totalling approximately USD4 billion.
  • Financial Advisor to PT Modernland Realty Tbk, an IDX-listed Indonesian real estate company, in the restructuring of its USD bonds, totalling USD390 million.
  • Appointed Director by a group of private equity funds to restructure and manage the operational and financial affairs of an oil and gas exploration and production company in Indonesia.
  • Financial Advisor to the syndicate and bilateral working capital lenders in respect of a restructuring of their USD500 million facilities to IDX-listed PT Pan Brothers Tbk, Indonesia’s largest garment manufacturer.
  • Financial Advisor to Titan Infra Energy, an Indonesian coal miner and logistics provider in Sumatra, Indonesia, in respect of a restructuring of its senior syndicated debt facilities and unsecured loans totalling approximately USD800 million.
  • Financial Advisor by to the majority secured lender to PT Delta Merlin Dunia Property owner of malls and hotels in Solo, Indonesia, in respect of its court supervised restructuring (PKPU).
  • Independent Financial Advisor to an Indonesian airline company and its subsidiaries in respect of a restructuring of its senior debt facilities of approximately USD300 million.
  • Financial Advisor to a group of senior lenders and bondholders (both institutional and retail investors) of IDX-listed PT Trikomsel Oke Tbk, a listed Indonesian mobile phone retailer, in respect of a proposed PKPU restructuring. Subsequently appointed as Director and Chief Restructuring Officer to implement the restructuring.
  • Appointed Director of Global Beauty International, a company providing non-medical cosmetic treatment services with over 200 centres with 3,000 staff across Hong Kong and South East Asia including Indonesia, Singapore, Thailand and Malaysia, to review its businesses and implement a turnaround and ongoing management.
  • Financial Advisor by a bank syndicate with outstanding loans of USD750 million to review the operations and cash position of Bayan Resources, a coal business, whilst a major infrastructure and mine ramp up was being implemented.
  • Financial Advisor to the Modern Group, an Indonesian listed group of companies which owned the Seven-Eleven master franchise in Indonesia and operated over 150 Seven-Eleven convenience stores throughout Indonesia, which, due to a government regulation, incurred liabilities in excess of USD100 million and ultimately, the closure of all Seven-Eleven stores in June 2017. Formulated and negotiated a restructuring proposal with bank creditors, finance companies and over 200 trade creditors, and successfully implemented the restructuring via a PKPU.
  • Financial Advisor to 22 syndicate lenders to Royal Industries, an Indonesian palm oil refinery company engaged in the processing and exporting packaged cooking oil, margarine, and soap, in respect of its court supervised USD399m restructuring.
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Other Areas We Can Help

Restructuring Advisory

Restructuring Advisory

Helping companies, lenders and investors take charge of complex situations under the toughest conditions.

Restructuring Advisory
Corporate Finance

Corporate Finance

Comprehensive support throughout mergers and acquisitions and other corporate transactions.

Corporate Finance



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