121 results found

The maximum priority amount for employees in liquidations, receiverships and bankruptcies increases from Sept 2012.

The Act removes an escape for directors and company officers by imposing mandatory reporting obligations on liquidators.

A discussion of Cargill International v Solid Energy New Zealand Ltd.

Chapman Tripp has taken the opportunity to comment on the Select Committee’s proposed amendments to the Insolvency Practitioners Bill. The report proposes registration, but the criteria for registration are essentially the same as the existing qualification criteria in the Companies Act. This minimal qualification criteria will set the insolvency profession apart from all other registered professionals.

A recent NZ High Court decision confirmed that receivers are not personally liable to pay body corporate levies.

The Insolvency Practitioners Bill and Taxation (Annual Rates, Returns Filing, and Remedial Matters) Bill are delayed.

These measures should support Government efforts to cushion the economic impact and support businesses, jobs and income.

New Insolvency Practitioners Bill proposes licensing framework where insolvency practitioners would require a license.

When parties are negotiating the settlement of dispute, they will often do so on a ‘without prejudice’ basis. This allows the parties to make statements or offers in the course of negotiations on the basis that they will not be used in court as admissions of liability.

We discuss Commissioner of Inland Revenue v Wilson [2007] NZCA 100.

A review of insolvency laws looked at the rights of gift card and voucher holders post liquidation & came up with a compromise.

These measures may assist NZ businesses and individuals, in financial distress because of COVID-19, avoid liquidation.

This was a reminder that only "material" information must be disclosed when a company is in voluntary administration.

This Supreme Court ruling makes it easier for subcontractors to keep their money, in the insolvency of a head contractor.

The decision settles an issue which has caused considerable uncertainty for many businesses and insolvency practitioners.

Despite uncertainty, the Insolvency Practitioners Bill has been picked up by the new government, but could be amended.