RSM International is a global top 10 network of international accounting and consultancy firms offering professional services, international corporate finance, corporate recovery, international tax and business advice services and forensic audits. These services are offered to companies in their own markets and internationally in over 70 countries.

Worldwide offices

London 12:02 New York 07:02
Hong Kong 19:02 Tokyo 20:02
Worldwide time zones

Did you know?

Chile's number one export is copper. The world's largest open pit mine is found at Chuquicamata in northern Chile

Automotive

Type of assignment: Voluntary Administration / Deed of Company Arrangement

Region: Australia
RSM firm: RSM Bird Cameron, Australia
RSM contact: David Kerr

Company Circumstances

The company was the sole importer and distributor of MG and Rover motor vehicles in Australia. Its other operations included a dealership, spare parts business, and technical support to dealers and repairers. The company was placed in voluntary administration following the collapse of the MG Rover group.

Scope of the assignment

RSM was appointed to undertake the realisation of the motor vehicle stock and facilitate the payment of the secured creditor and unsecured creditors.

Outcome

RSM carried out the sale of the motor vehicle stock and spare parts operation. A deed of company arrangement was executed securing the repayment in full of the secured creditor, paying a return to unsecured creditors, and paying a contribution to the owners of MG and Rover vehicles towards the cost of purchasing a warranty product for their vehicles.