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

RSM expands Restructuring & Recovery division into Queensland

RSM Australia has announced the expansion of its Queensland operations to include a Restructuring and Recovery practice, led by Mitchell Herrett.
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 improperly gave away before the liquidator was appointed.
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 company incurs while it is insolvent. In February’s newsletter, we gave an introduction to insolvency as well as some tips on how to avoid it.
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, and to allow enough working capital for future financial obligations. Once a company can not pay its debts as and when they fall due, it is said to be insolvent.
15 February 2017

Insolvency reform edition 9 - February 2017

The Ariff reforms 
10 February 2017

Liquidity a problem? Give your business a health check

Check the financial health of your business with a Liquidity Health Check!
11 January 2017

Personal Insolvencies on the Rise

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.
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 collapse in commodity prices on the Australian economy.
24 May 2016

Insolvency reform edition 7 - May 2016

The government’s proposals paper The government has released its proposals paper titled Improving bankruptcy and insolvency laws.
10 May 2016

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