RSM Australia

Our People

Peter Marsden
Senior Consultant - Sydney

Biography

Peter is a Senior Consultant in the Restructuring & Recovery division in Sydney.

He has over 35 years' experience in corporate business investigation, turnaround and recovery, and is an official liquidator of the Supreme Court of NSW and Federal Court of Australia.

Solutions Peter provides

Peter has experience in all forms of business investigation, recovery and turnaround management. His hands on approach to all assignments focuses on maximising recovery for all stakeholders when borrowers face financial distress. This positive attitude has been the savior for many businesses. When a turnaround is not possible, Peter will ensure the best outcome for creditors. 

Peter has been the lead partner on a number of investigating accountant reports on major business as well as creating and implementing the strategy for informal workouts. 

Significant projects

Peter has experience in a wide variety of industries.

Recent matters include:

  • Capitol Square Hotel - receivership - total secured creditors $19m. Hotel sold as a going concern.
  • Motor Group Australia - receivership - importer of MG and Rover cars. Successfully implemented deed of company arrangement after manufacturer failed in the UK, including the sale of over 300 cars at a nationally coordinated auction.
  • St George Appliances - official liquidation - estimated deficiency $20m. Manufacturer of white goods including St George Ovens.
  • Sydney 2002 Gay Games Limited - voluntary administration - total creditors $3m.
  • Fruits of Batlow Stonefruit and Apple Orchards - voluntary administration - successfully implemented deed of company arrangement. Total creditors $30m.
  • Parle Foods Pty Ltd - receivers and managers - food processing plant with total debt of $40m.
  • 7 Steel Distribution - receivership - importer and distributor of steel in 11 locations across Australia. Secured debt of $18m.
  • Maylenu - receivership - operated Marketland Shopping Centre Tahmoor. Sold as going concern for $4.5m.

Professional associations

  • Chartered Accountants Australia and New Zealand
  • Australian Restructuring Insolvency & Turnaround Association (ARITA)
  • Turnaround Management AssociationPeter Marsden
  • FINSIA
  • Australian Institute of Credit Management
  • Official liquidator (1996)
  • Registered liquidator (1994)

Qualifications

  • Bachelor of Commerce (University of NSW)
  • National Technical Education
News articles

ASIC keeps eagle eye on professional advisers

23 August 2016
The Australian Securities and Investment Commission (ASIC) has demonstrated a continued commitment to investigating and prosecuting professional advisers who aid in breaches of director duties, or who are involved in phoenix activity. Most recently, this has been shown in court action brought by ASIC against the proprietor of a small business advis...
Publications

Protecting your Assets – the PPSR is (most likely) for you!

16 November 2016
The Personal Property Securities Register (PPSR) has been in operation since 30 January 2012, yet many businesses continue to be ignorant of the PPSR by not understanding the nature of their agreement with customers, failing to register or registering incorrectly.

Untrustworthy advisers exploit unsuspecting directors

21 September 2016
Our August Newsletter ('Phoenix Rising: ASIC Keeps Eagle Eye on Professional Adviser') noted ASIC’s prosecution of a business adviser who assisted a director to breach his statutory duties. ASIC has now written to company directors highlighting the need for caution when contacted 'out of the blue' by advisers seeking to assist them in cas...

How SMEs can reverse their exposure to insolvency risk

25 May 2016
Renewed interest by the ATO in recovering outstanding debt serves as a wake-up call for countless Australian companies that only manage to continue trading with insufficient cash flow due to a benign interest rate environment and by not complying with debt obligations. If you’re one of Australia’s countless ‘walking dead’ companies that...

Resources Slowdown – coming to a business near you

24 May 2016
We are reminded daily of the effects of declining investment in mining construction and the collapse in commodity prices on the Australian economy. This has been highlighted in the 2016 federal budget where the Federal Government realises the mining investment boom is over and it is trying to stimulate the economy and job growth thro...

Director Penalty Notices - An explanation of the Director Penalty Regime

13 April 2016
What is a director penalty notice (DPN)? A notice issued by the ATO, which if not complied with by the due date, makes a director personally liable for the penalty amount until it is paid in full. The director penalty regime applies to: Unpaid Pay As You Go (PAYG) withholding amounts Unpaid Superannuation Guarantee Charge (SGC) ob...

How to avoid becoming a shadow CRO

17 August 2015
Individuals helping Australian businesses to restructure or wind up may be putting their careers and livelihoods at risk by not understanding how their role is perceived under the law. If things go wrong, they can be pursued as a company ‘shadow director’ and may be held personally liable. Andrew Beck said, “When companies are in trouble t...

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...

The rise of the zombie company

23 January 2015
In the past, many underperforming companies managed to slip under the radar and escape insolvency. With market conditions changing, these businesses need to change course if they want to avoid going under. In 2014, many indebted companies were able to repay the interest on their debts but not able to reduce the actual debt itself or invest in ma...