RSM Australia

Restructuring & Recovery

We have a dedicated team of professionals in Albury, Brisbane, Canberra, Melbourne, Perth, Sydney and Wagga Wagga that can undertake insolvency services.  Our Restructuring & Recovery team staff are skilled in handling these types of appointments backed by the resources of a full service national accounting practice. By connecting with our multi-disciplined team approach, you can be assured of us achieving the best outcome.

Our valued client relationships and connections include:

  • corporations in financial difficulty that need assistance in reorganising their affairs
  • directors and business proprietors who have a personal financial exposure
  • bankers, other financial institutions, and government agencies that have concerns about the financial health of a borrower; lawyers seeking specialised business recovery services for their clients
  • other accountants and consultants seeking specialised business recovery services for their clients
  • the court, in the case of certain formal corporate recovery appointments


Our team focuses on those industries in which we specialise, concentrating on applying what we already know to financial problems in industries we understand.

Our industry specialisation includes:

  • agriculture
  • building and construction
  • commercial property
  • education
  • earthmoving
  • fishing and aquaculture
  • hotels, motels, pubs and clubs
  • import and export
  • manufacturing and engineering
  • mining services
  • newsagents
  • retail
  • transport
  • motor vehicle dealerships and other floorplan dealerships
     

Ongoing insolvency matterS

Insolvency Reform Edition 10 - April 2017

A plethora of issues A great deal has occurred since our last Insolvency reform newsletter.

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.

Liquidity a problem? Give your business a health check

Companies relying on historically low interest rates to mask their true capacity to pay bills when they fall due, need to seriously address debt serviceability once the official cash rate starts moving higher which some will say will occur in 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.

Protecting your Assets – the PPSR is (most likely) for you!

The Personal Property Securities Register (PPSR) has been in operation since 30 January 2012, yet many businesses continue to be ignorant of the PPSR by not understanding the nature of their agreement with customers, failing to register or registering incorrectly.
The future looks bright for Leeton Soldiers’ Club following the recent payments to its creditors

Leeton Soldiers' Club pays off creditors

The future looks bright for Leeton Soldiers’ Club following the recent payments to its creditors as facilitated by the agreement with the Club’s Administrators and the implementation of the necessary governance, capital and operational improvements to safeguard its future.

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.

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