Sharing contempt penalties with liquidators and trustees
New Zealand courts will divide up fines imposed on directors or bankrupts for contempt for failure to assist insolvency practitioners, half going to the government and half to the practitioner, in recognition of the need to compensate the estate for the time and cost occasioned by the conduct on which the finding of contempt is […]
Senator Williams and the Finnish model of insolvency
A group of small insolvency practitioners has had raised in parliament its project aiming at a universal and consistent approach to the insolvency reforms commencing in 2017, described by Senator John Williams as “an industry first”. The need for insolvency to adopt efficient computer based processes was raised in my earlier comment, saying that now that there […]
