RSM Australia

Corporate insolvency solutions

RSM provides professional corporate insolvency solutions and advice to help focus on recovery and reconstruction and add value to your work and your relationships. Corporate insolvency solutions and advice to help focus on reconstruction and recovery

Whether it's liquidation, receivership or voluntary administration, with RSM corporate insolvency solutions, you can be confident that you have all the professional support you need for your corporate insolvency matters.

 

 

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.

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.

Insolvency Reform Edition 11 - May 2017

THE RISE OF THE PRE-PACK  View the past edition of the Insolvency Reform newsletter -[Insolvency Reform Edition 10 - April 2017] here

Can you trust a Trust?

A recent decision by a Victorian Court may settle the confusion associated with the appointment of a liquidator to a corporate trustee of a trading trust. Robson J in Re: Amerind has chosen to follow aspects of Brereton J’s decision in the (NSW) case of Re: Independent Contractors which attracted a degree of criticism at the time.

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.

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.

Untrustworthy advisers exploit unsuspecting directors

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 keeps eagle eye on professional advisers

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.

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.

Insolvency reform edition 7 - May 2016

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

Insolvency reform edition 5 - March 2016

A step too far? The government’s proposal to reduce the term of bankruptcy from three years to one year has been the subject of recent debate. This proposal forms part of the government’s National Innovation & Science Agenda.

Insolvency reform edition 3 - January 2016

The ugly duckling and the swan

Secured creditor’s right of subrogation confirmed

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.

Insolvency reform edition 1 - November 2015

Chapter 11 for Australia? Innovation Minister Christopher Pyne has declared changes to insolvency laws will be part of the innovation statement expected to be released by the government next month. It is claimed business groups have lobbied the government to move Australian insolvency laws more toward the US model.

Challenging times in the not-for-profit sector

Increased costs of compliance, changing government priorities, high administration costs are just some of the challenges which are being faced by the not-for-profit sector.

ATO more aggressive in winding up businesses owing 100K+

Businesses owing the ATO $100,000 have been wound up as a new crackdown gathers momentum. This indicates a clear change of focus and increased enforcement for the ATO and the message is clear - get a payment plan in place ASAP, or face a real risk of being wound up.

How to avoid becoming a zombie company

Like the traditional walking dead, zombie companies wander aimlessly and unsteadily, not quite alive but still moving.