What do creditors get from ‘successful’ recovery actions by insolvency practitioners?
A Judge has ordered that Trustees in bankruptcy file “evidence that identifies the benefits the creditors of the bankrupt estate are likely to receive if the Trustees succeed” in the voidable transaction claims being brought. That was ordered in the particular circumstances of the case, but it would be a useful order for judges to […]
Cleaning up after failed oil and mining operations – new New Zealand laws, and other ideas
The cost of environmental clean-up of mining and other resource projects where the company has gone into liquidation is a live issue in Australia, with the on-going issues following the liquidation of the Northern Oil and Gas Australia (NOGA) group of companies, and with similar issues in New Zealand, and elsewhere internationally. NZ is introducing […]