RSM Australia

Voluntary administration

RSM has extensive experience in conducting voluntary administration for all sizes of companies across numerous industries.
The aim of a voluntary administration is to enable the business, property and affairs of an insolvent company, or a company which may become insolvent, to be administered in a way that maximises both the chances for the company to continue in existence; and for the return to creditors and shareholders.

The voluntary administration process is instigated by the directors of a company or lenders that hold security of the whole or substantially the whole of a company’s assets and is available to companies which are, or may become, insolvent.

A voluntary administration provides a formal process that can facilitate an orderly reconstruction of a company’s business which may be basically sound, but is currently facing financial difficulty.

Our experts will provide detailed advice on the benefits of the voluntary administration process and whether the process is recommended for each specific case. We are dedicated to working with the key stakeholders to achieve the desired outcome, be it restructuring a company’s affairs through a deed of company arrangement or by assisting with the transition of the company’s into liquidation. 
 


Looking for more information about voluntary administration?

We have many office locations across Australia, please view our locations and get in touch with your local expert.  

 

Proposed Insolvency Reforms for Small Businesses

1 October 2020
On 24 September 2020, Treasurer Josh Frydenberg announced significant insolvency reforms to commence on 1 January 2021 (subject to legislation).

COVID-19 and the impact on insolvencies

12 August 2020
Last week the government announced a new and more targeted extension to the stimulus spending supporting organisations in Australia that remain affected by COVID-19.

What happens when my company goes into liquidation?

26 February 2020
The fight to keep a struggling business alive can be physically, mentally and emotionally draining. While a part of you may wish to cut and run, the other part (usually the part that helped launch the business in the beginning) continues to push – exhausting every possible means to stay afloat.

Voluntary liquidation: 5 signs it may be time for your company

26 February 2020
The demise of a company can catch any director off guard – especially if you run an established business and are no stranger to dealing with cash flow ups and downs. But regardless of whether your business is in its fragile infancy or has been around for decades, the prospect of liquidation is equally frightening.

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

15 January 2020
The day you walked into your bank and asked them to fund new equipment or supplies for your start up or company expansion, you probably never dreamed a time would come when you couldn’t pay it back.

Voluntary bankruptcy: is it your best option?

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

Life during bankruptcy: is it really that bad?

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

Directors now immediately liable for overdue superannuation amounts

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