RSM Australia

Our People

Richard Stone
Partner - Sydney

Biography

Richard is a Partner of the Restructuring & Recovery division in Sydney.

He has over 14 years' experience both locally and internationally in the fields of corporate recovery and forensic accounting.

Richard Stone is a Partner of RSM Australia Partners and a Director of RSM Australia Pty Ltd.

Solutions Richard provides

Richard is committed to achieving the best outcomes for his clients, including a focus on maximising recovery for secured creditors.

Richard provides services in the areas of:

  • receiverships acting for secured creditors
  • corporate restructuring and monitoring
  • exit strategy planning
  • formal insolvency procedures
  • independent business reviews
  • pre-lending reviews
  • representations at creditors meetings

Significant projects

  • 7Steel Distribution Pty Ltd, receivership - trade on of a national steel distribution business with in excess of $20m in assets, 120 employees and creditors of $40m
  • Snowburn Pty Ltd, receivership - trade on administration involving four businesses in tourism/hospitality in the NSW snowfields, secured the sale of the businesses as going concerns
  • Cardinal Group, voluntary administration - demolition and waste recycling business, secured assets of circa $12m, 250 employees and creditors of $48m
  • Recruitment National, liquidation - labour hire company with over 250 employees, $2m in assets recovered and statutory debts in excess of $5m

Professional associations

  • Chartered Accountants Australia and New ZealandRichard Stone is a Partner of the Restructuring & Recovery division in Sydney, providing expertise both locally and internationally in the fields of corporate recovery and forensic accounting.
  • Australian Restructuring Insolvency & Turnaround Association (ARITA)
  • Turnaround Management Association

REGISTRATIONS

  • Official Liquidator
  • Registered Liquidator

Qualifications

  • Bachelor of Economic (Accounting and Business Law) - Macquarie University
Publications

Personal Insolvencies on the Rise

14 December 2016
In a sign of the challenging economic circumstances that face certain industries and geographic areas throughout Australia the number of personal insolvencies in Australia has risen by 4.4% in 2015 / 16 as compared to 2014 / 15. This is the first increase in formal personal insolvencies since the Global Financial Crisis. A total of 29,527 ind...

Secured creditor’s right of subrogation confirmed

3 December 2015
A recent decision in the Federal Court has confirmed that when a secured creditor has paid outstanding employee entitlements from the realisation of circulating assets, they have the right to subrogate into the position of employees and receive any dividends paid. The Court in Weston (Liquidator); In the Matter of 7 Steel Distribution Pty Limite...

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...