NZ

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 …

Wildes Meadow

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 …

New Zealand insolvency practitioner regulation – possible delay

The new corporate insolvency practitioner licensing regime in New Zealand, due to start in July 2020, may be put off …

New Zealand’s COVID-19 insolvency measures – safe harbour; debt hibernation

The New Zealand Government has announced it will be introducing legislation to make changes to the Companies Act to help …