Capability Statements

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Agribusiness: Voluntary Administration and Deed of Company Arrangement

The Issue

The Group employed 188 staff at the time of the appointment of the administrators. The group had an annual turnover of $12 million, assets with a book value of $29.8 million and a secured creditor owed $32 million. Read more...

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Finance: Liquidation

The Issue

The Company was a licensed finance broker pursuant to the Finance Brokers Control Act 1975 (Western Australia). It was found to have breached its fiduciary duties as trustee and misapplied and lost trust funds. The director of the Company was found guilty of stealing by direction and sentenced to 10 years jail. Read more...

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Motor Vehicle: Voluntary Administration and Deed of Company Arrangement

The Issue

The Company was placed in voluntary administration following the collapse of MG Rover Group Limited (in Administration) in the United Kingdom, as directors of the Company were concerned that the financial exposure to the Company (and its directors) in relation to warranty claims from MG and Rover dealers in Australia would render the Company insolvent. Read more...

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Agribusiness: Receiver and Manager appointed by Secured Creditors

The Issue

The company built the largest corn processing plant in the southern hemisphere with the ability to process 50,000 tonnes of corn (equates to approximately half of Australia’s domestic market). RSM Bird Cameron was appointed to ensure the realisation of assets for repayment of secured debt. Read more...

Agribusiness: Receivership

The Issue

The Company was one of the largest asparagus growers and cultivators on the Eastern Sea Board of Australia and was the largest exporter of asparagus to Japan. RSM Bird Cameron was appointed by the secured creditor for the purpose of the realisation of assets and repayment of debt to the secured creditor. Read more...