RSM Australia

Biography

David is a Partner of the Restructuring & Recovery division and has over 25 years' experience.

He provides advice on and accepts appointments to both corporate and personal insolvency matters.

David was previously actively involved with the Australian Restructuring Insolvency & Turnaround Association (formerly the Insolvency Practitioners Association of Australia), being a former president of the NSW and ACT committee, and former member on the national board of the association.

David Kerr is a Partner of RSM Australia Partners and a Director of RSM Australia Pty Ltd.

Solutions David provides

David is able to offer specialist advice in both corporate and personal insolvency fields. He has been appointed to formally administer a wide range of small and medium sized enterprises by debtors, creditors, secured creditors and directors. In addition to his formal appointments, David specialises in the preparation of investigatory reports for financiers and creditors.

Significant projects

David has experience dealing with individuals and companies in a variety of industries. He has been involved in the conduct of external administrations of companies and individuals in various businesses. David has been involved in both formal and informal workout assignments. He has undertaken assignments involving complex business groups with a variety of business structures.

David has also undertaken numerous assignments involving the investigation of business affairs of individuals and companies including the conduct of public examinations and the legal proceedings to recover assets for the benefit of creditors.

Professional associations

  • Member, Chartered Accountants Australia & New Zealand
  • Australian Restructuring Insolvency & Turnaround Association
  • CPA Australia

Qualifications

  • Bachelor of Business (Accountancy) - QUT
  • Grad Dip (Advanced Accounting) - QUTDavid Kerr provides advice on and accepts appointments to both corporate and personal insolvency matters.

Registrations

  • Official liquidator
  • Registered liquidator
  • Registered trustee
Publications

When insolvency looks likely: do you need safe harbour?

10 April 2019
If you’re in touch with your company’s financial position and receive regular (if not daily) updates, you should be able to see the writing on the wall well before the situation becomes dire. But how do you know when you’ve passed the point of 'not doing well' and entered 'insolvency' territory? Here are a few of the common sig...

Insolvency Reform Edition 19 | Another Hole in the Corporate Veil

1 March 2019
A Bill with big consequences for company directors was introduced to the House of Representatives on 13 February 2019. It was quickly referred to the Senate Economics Legislation Committee (“the Committee”) on Valentine’s Day. The Committee is scheduled to report on the Bill on 26 March 2019. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >...

Insolvency Reform Edition 18 | Open Season on the Phoenix

13 September 2018
The Government has proposed radical change to combat the estimated $5.13 billion annual cost to the economy of illegal phoenix activity. The draft legislation targets directors and enablers of this activity. An expansion of director penalty regime to include GST is  also proposed. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >> ...

Insolvency Reform Edition 17 | The Sequel 10 Years in the Making: Protecting Employee Entitlements - July 2018

5 July 2018
This article discusses proposed reforms to strengthen the protection of employee entitlements and asks if the proposed reforms will make it through Parliament in their current form. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >> Are we serious about Insolvency Law Reform? It seems the statute books are littered with legislation tha...

Insolvency Reform Edition 16 | Is it time?

3 May 2018
This article discuesses whether it is time for Insolvency Practice Standards contained in the ARITA Code, to be given the force of law. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >> Accounting standards and auditing standards in Australia were initially developed by the professional accounting bodies, and were enforceable under their...

Insolvency Reform Edition 15 | 1 year bankruptcies. Will we regret this?

13 March 2018
This article of Insolvency Reform discusses the Bankruptcy Amendment (Enterprise Incentives) Bill 2017. VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >> The Bankruptcy Amendment (Enterprise Incentives) Bill 2017 (“the Bill”) was referred by the Senate on 30 November 2017 to the Legal and Constitutional Affairs Legislation Committee ...

Company directors get a safe harbour in relation to potential insolvent trading claims

4 December 2017
On 18 September 2017, what has become called “the safe harbour defence”, became available to company directors from claims against them for allowing the company to incur debts whilst insolvent (“insolvent trading”). This reform was part of the Government’s National Innovation and Science Agenda launched in late 2015. Why was the safe h...

Tips to avoid failure for small business - Part 1

6 October 2017
Small business owners take note! At RSM, we have seen many businesses with cash flow problems or debt recovery issues successfully turned around as a result of early action on the part of directors and business owners.   Unfortunately, business failures usually occur where action is taken far too late to enable any chance of turnaround or...

Insolvency Reform Edition 14 | Independence: The sky is not falling

1 September 2017
This article of Insolvency Reform discusses the recent Network Ten decision and its implications on independence requirements for insolvency practitioners.  VIEW THE PAST EDITIONS OF INSOLVENCY REFORM >> The published judgment in the Network Ten case[i] demonstrates the Courts do not intend to create a free for all for safe harbo...

Insolvency Reform Edition 13 | Is Independence Dead?

21 July 2017
This article of Insolvency Reform covers the recent court challenge around independent insolvency practitioners. View the past editions of insolvency reform >> Law reform occurs in many ways. The reserved decision of the recent hearing in the Federal Court regarding the Network Ten administration has the potential to change the fac...

Insolvency Reform Edition 12 - June 2017 - Ahoy! A safe harbour?

16 June 2017
Ahoy! A safe harbour? View the past edition of the Insolvency Reform newsletter - Insolvency Reform Edition 11 - May 2017 HERE The Treasury Laws Amendment (2017 Enterprise Incentives No.2) Bill 2017 (“the Bill”) was introduced to the House of Representatives on 1 June 2017. The Bill has commenced its journey to approval by both ...

Insolvency Reform Edition 11 - May 2017

5 May 2017
THE RISE OF THE PRE-PACK  View the past edition of the Insolvency Reform newsletter - [Insolvency Reform Edition 10 - April 2017] here Pre-Packs  With the pending implementation of the Government’s safe harbour proposal. We should now consider the potential outcomes of the safe harbour mechanism. One of those we expect wi...

Insolvency Reform Edition 10 - April 2017

5 April 2017
A plethora of issues A great deal has occurred since our last Insolvency reform newsletter.

Insolvency reform edition 9 - February 2017

10 February 2017
The Ariff reforms  The Insolvency Law Reform Act 2016 (“ILRA”), associated Insolvency Practice Schedules (Bankruptcy and Corporations) (“IPS”) and associated Insolvency Practice Rules (Bankruptcy and Corporations) (“IPR”) is the legislature’s long awaited response to the September 2010 Senate Economic Reference Committee Repor...

Insolvency reform edition 8 - December 2016

13 December 2016
Treasury’s User Pays Model          Treasury’s ideological crusade Despite intense lobbying by ARITA and insolvency professionals Treasury has refused to back down from the ideologically driven one size fits all approach to funding ASIC. With the Government pushing ahead with its sale of AS...

Insolvency reform edition 7 - May 2016

10 May 2016
The government’s proposals paper The government has released its proposals paper titled Improving bankruptcy and insolvency laws. 1. Reducing the default bankruptcy period We have previously questioned whether one of the stated objectives of this proposal, to encourage entrepreneurial activity, will be accomplished on implementation...

Insolvency reform edition 6 - April 2016

2 May 2016
Funding ASIC There is nothing like an election campaign to get decisions from government. Reacting to the opposition’s campaign promise of a Royal Commission into the banks, the government has announced a plan to bolster ASIC to protect Australian consumers. An injection of $127.2m into ASIC's coffers was announced by The Treasurer and Mi...

Insolvency reform edition 5 - March 2016

29 March 2016
A step too far? The government’s proposal to reduce the term of bankruptcy from three years to one year has been the subject of recent debate. This proposal forms part of the government’s National Innovation & Science Agenda. Some insolvency practitioners have recently expressed reservations regarding this proposal. Is the p...

Insolvency reform edition 4 - February 2016

26 February 2016
Background Trusts play a big role in asset protection and income tax planning for many individuals. It would probably be true to say trusts are one of the great innovations of the English judiciary. Proposals by the legislature to change how the income of trusts are taxed usually meets stiff resistance from noisy, small but powerful interest gro...

Insolvency reform edition 3 - January 2016

18 January 2016
The ugly duckling and the swan Insolvency reform is unlikely to be front and centre of the electors’ minds when they go to the polls later this year. It is not an issue that will influence how a swinging voter in a key marginal electorate will cast their vote. Governments of all political persuasions have had little appetite to pursue an insol...

Insolvency reform edition 2 - December 2015

9 December 2015
Taking the leap As foreshadowed the Australian Government has announced proposed changes to insolvency law. Innovation in legislative reform should be encouraged, so we welcome and support this Federal Government initiative.  The changes are aimed at encouraging entrepreneurship and innovation. The changes are described as improvements, how...

Insolvency reform edition 1 - November 2015

25 November 2015
Chapter 11 for Australia? Innovation Minister Christopher Pyne has declared changes to insolvency laws will be part of the innovation statement expected to be released by the government next month. It is claimed business groups have lobbied the government to move Australian insolvency laws more toward the US model. In our view it is unlike...

How to avoid becoming a zombie company

11 February 2015
Like the traditional walking dead, zombie companies wander aimlessly and unsteadily, not quite alive but still moving. The term ‘zombie companies’ has become more common as low interest rates let otherwise struggling companies battle on. In the past, many of these underperforming organisations managed to slip under the radar, escaping insolv...