NZ
NZ Supreme Court confirms Mainzeal directors’ liabilities for over NZ$39 million
The Supreme Court of New Zealand has dismissed directors’ appeals from a finding that they must pay over NZ$6 million ...
How low can we go – funding the insolvencies of assetless estates
Obvious as it is to say, insolvency involves limited or no money, and how to fund its existence as a ...
Licensing of insolvency practitioners – decision making principles from New Zealand [updated post 13 June 2021]
Mr Damien Grant, the New Zealand insolvency practitioner who successfully challenged RITANZ’s decision to deny him the right to practice ...
NZ’s measured review of class actions and litigation funding, noting Australia’s ‘polarised’ debate
The New Zealand Law Commission has commenced a 2 year inquiry into litigation funding and class actions, right at the ...
Spent convictions of insolvency practitioners
According to a report from Stuff in New Zealand, a long-established liquidator has been denied permission to continue to practise ...
‘In the ordinary course of business’ in insolvency – why are we following wrong thinking New Zealanders?
The term ‘ordinary course of business’ in law is meant to describe a transaction that was within the normal operations ...
Choosing practitioners to administer Australian MSME insolvencies
The Australian government is presently finalising its draft SME insolvency law reform proposals. Apart from getting the law right, as ...
Duties of directors of insolvent companies – New Zealand Supreme Court decision
The NZ Supreme Court has given a significant decision on the duties of directors in the face of their company’s ...
Fightback! SMEs get a new restructuring tool
The federal Treasurer has announced a new restructuring regime for struggling small to medium enterprises (SMEs)[1] which adopts a ‘debtor-in-possession’ ...
Under the Trans-Tasman Mutual Recognition laws, licensed New Zealand insolvency practitioners should be able to practise in Australia …
New Zealand has a new insolvency practitioner regulation regime which commenced on 1 September 2020. The regime has processes allowing ...
Insolvency licensing bodies confirmed for New Zealand’s new regulatory regime
The New Zealand Registrar of Companies has approved the first licensing bodies for the commencement of the new regulatory regime ...
New Zealand’s $1 insolvency practitioner regulation levy
The new New Zealand insolvency practitioner regulation regime, commencing on 1 September 2020, will be funded in part by a ...
New Zealand’s bankruptcy monopoly – an MP’s parting comments
The New Zealand Official Assignee administers all personal insolvencies; it shares the administration of corporate insolvencies with the private sector. ...
Mainzeal’s NZ$36m reckless trading appeal pending; bankruptcy of director deferred
Liquidators of Mainzeal with a NZ$36m judgment for reckless trading against the company’s directors have failed in an attempt to ...
Liquidators’ remuneration in Halifax referred to a referee
Going back some years, Australia rejected a single insolvency regulator for its personal insolvency practitioners on the one hand, and ...
How much to regulate an Australian liquidator? a NZ liquidator?
While ASIC is currently taking submissions on its proposed funding charges for the regulation of Australian liquidators, and other groups ...
Managing Australian and New Zealand insolvency practitioners
CAANZ took a worthy leap some years ago in bringing the Australian and New Zealand accounting professions together. Given that ...
New Zealand’s insolvency practitioner regulation regime, from 1 September 2020
A new insolvency practitioner regulation regime for New Zealand will start on 1 September 2020, according to RITANZ, only a ...
Liquidators’ remuneration – “most businesses do not charge out that way”
A Judge apologised at the start of his judgment for the length of time he took to determine liquidators’ remuneration. ...
Insolvency Law Bulletin – June 2020
The latest issue of the Insolvency Law Bulletin has just appeared containing a wide range of topics in personal and ...
Regulation of insolvency practitioners by accounting bodies
The outcomes of co-regulation of UK insolvency practitioners are explained in a May 2020 report of the ICAEW, with some ...
Preferences paid by company under a DOCA – based upon a reading of the section
A company under a 2013 deed of company arrangement made payments to the Deputy Commissioner of Taxation. The deed was ...
Ponzi investors suing ANZ Bank for their losses
The ANZ Bank has failed to have struck out a claim against it by investors in what was the largest ...
New Zealand’s COVID-19 laws on reckless trading and debt hibernation
The COVID-19 Response (Further Management Measures) Legislation Bill has been introduced into the New Zealand parliament is now before the ...
