Professional Receivership Services to Manage Financial Distress

Receivership is a legal process where an external party is appointed to sell or safeguard the assets of a company or business.
Receivership involves appointing an external administrator, known as a receiver, to collect and sell the company's assets to repay the debt owed to secured creditors. The process is governed by the Corporations Act 2001 and aims to maximise returns for creditors while allowing the business to continue to trade where possible.

Receiverships are primarily instigated by secured lenders who’s primary focus is to recover sufficient funds to discharge their secured debts. 
We have also been appointed as receivers by the courts in a number of matters where the courts have deemed it proper to appoint a receiver.

We appreciate that a receivership will not end until we have collected and sold all of the assets or enough assets to repay the secured lender, completed all receivership duties and paid receivership liabilities. Accordingly, it is our primary goal to ensure all required tasks are addressed with urgency and facilitate the finalisation of the engagement as soon as practicably possible.

At RSM, our comprehensive receivership services include:

• Managing the Company: Our experienced team steps in to manage the company during the receivership process, ensuring stability and continuity.
• Selling Secured Assets: We efficiently sell the secured assets to repay the debt owed to creditors, striving to achieve market value the best price.
• Debt Management: Handling the debt owed to both secured and unsecured creditors, ensuring all parties are treated fairly.
• Compliance with Corporations Act 2001: Ensuring all actions taken during the receivership comply with relevant legislation.
• Insolvency Practitioners: Our team of qualified insolvency practitioners brings expertise and professionalism to the receivership process.
• Collects and Sells: Efficiently collecting and selling assets to maximise returns for creditors.
• External Administrator: Acting as the external administrator to manage the receivership process effectively.
• Continue to Trade: Where viable, enabling the business to continue to trade to preserve value and jobs.

In addition to receivership, RSM offers a range of solutions to manage financial distress:

• Liquidation and Voluntary Administration: Providing support for businesses undergoing liquidation or voluntary administration to ensure compliance and optimal outcomes.
• Deed of Company Arrangement: Assisting in formulating and implementing deeds of company arrangement to restructure debt and return the business to solvency.