RSM Australia

Bankruptcy services

RSM have a team that specialises in individual insolvency solutions including Bankruptcy Services and Personal Insolvency Agreements in Brisbane, Canberra, Melbourne, Perth, Sydney and Wagga Wagga..  We have a team that specialises in individual insolvency solutions including Bankruptcy Services and Personal Insolvency Agreements.  

Our Registered Trustees have offices in Brisbane, Canberra, Melbourne, Perth, Sydney and Wagga Wagga.

The objectives of the Bankruptcy Act 1966 (“the Act”) include:

  • The release of debtors from their provable debts
  • The pooling of divisible property to meet the costs of the administration and repayment of debts in full or in part
  • To provide alternatives to bankruptcy
  • The administration of the Income Contribution regime which affects bankrupts whose after tax income is greater than the threshold amounts
  • Limiting commercial activities by bankrupts and debtors during the period of bankruptcy or before the terms of a PIA are fulfilled
  • The prosecution of offences arising before, during and after bankruptcy and in relation to Debt Agreements and PIA’s

5 elements to a successful not-for-profit amalgamation or merger

One of the first sectors to bear the brunt of an economic downturn is the not-for-profit sector...
26 August 2020

COVID-19 and the impact on insolvencies

Last week the government announced a new and more targeted extension to the stimulus spending...
12 August 2020

Insolvency Reform Edition 21 | Is it time for radical restructuring reform?

The reckoning - A Black Swan event in the form of a pandemic will test the capacity of personal...
31 March 2020

Family Law Property Settlements – potential impact of COVID-19

Valuations for Family Law property settlements. Valuations are prepared as at a specific date...
30 March 2020

How a bank may decide to lend your business money

When you have a great business idea or want to expand an existing business, a loan can make all the...
15 January 2020

What your bank may do when you can’t pay a business debt

The day you walked into your bank and asked them to fund new equipment or supplies for your start...
15 January 2020

Voluntary bankruptcy: is it your best option?

Finding yourself struggling under the weight of insurmountable debt is not something most people...
4 December 2019

Life during bankruptcy: is it really that bad?

Fear of the unknown is undoubtedly stressful, but for someone facing bankruptcy, that fear can be...
3 December 2019

Insolvency Reform Edition 20 | Is this enough?

Insolvency inquiry focused on small business Despite the growing chorus of those calling for a...
31 October 2019

Sign up for an Asset Protection event near you

Imagine losing all of your assets in one fell swoop – house, cars, savings… the lot. Insurance...
8 September 2019

Directors now immediately liable for overdue superannuation amounts

From April 1st 2019, directors may be held personally liable for overdue superannuation from the...
5 September 2019

Tips to avoid failure for small business - Part 2

In Part 2 of this series, we provide some key advice for reducing debt risks for small business...
24 November 2017

RSM expands Restructuring & Recovery division into Queensland

RSM Australia has announced the expansion of its Queensland operations to include a Restructuring...
30 June 2017

Directors and creditors take note: Changes to the claw-back rules

In a liquidation, a liquidator has the right to take back property or money that the debtor...
28 June 2017

Insolvency: What does it really mean?

Most directors should be aware that they may be made personally liable for any unpaid debt their...
21 March 2017

Insolvent Trading: What it is and how to avoid it

To remain viable, any company needs to ensure that it is able to meet its debts when they are due...
15 February 2017

Insolvency reform edition 9 - February 2017

The Ariff reforms...
10 February 2017

Personal Insolvencies on the Rise

In a sign of the challenging economic circumstances that face certain industries and geographic...
14 December 2016

Resources Slowdown – coming to a business near you

We are reminded daily of the effects of declining investment in mining construction and the...
24 May 2016

Insolvency reform edition 7 - May 2016

The government’s proposals paper The government has released its proposals paper...
10 May 2016

Insolvency reform edition 6 - April 2016

Funding ASIC...
2 May 2016

Insolvency reform edition 5 - March 2016

A step too far? The government’s proposal to reduce the term of bankruptcy from three years to...
29 March 2016

Insolvency reform edition 3 - January 2016

The ugly duckling and the swan...
18 January 2016

Insolvency reform edition 2 - December 2015

Taking the leap...
9 December 2015

Secured creditor’s right of subrogation confirmed

A recent decision in the Federal Court has confirmed that when a secured creditor has paid...
3 December 2015

Challenging times in the not-for-profit sector

Increased costs of compliance, changing government priorities, high administration costs are just...
15 October 2015