COVID-19 – Insolvency Relief for Business
7 April 2020 The global COVID-19 pandemic has caused global disruption to life, liberty, and commerce. Along with tragic death and illness, COVID-19 is straining and shutting down borders. businesses, supply chains puts the livelihoods of people at risk. Closer to home, the NZ Government has taken the unprecedented step of banning the non-essential movement […]
Is Inflation coming back?
Inflation, for many New Zealanders, is either a distant memory, if they are old enough to remember it at all. It has been forty years since we have had to grapple with the curse of significant price uncertainty. Are these days about to end? Scarcity as a source of inflation Throughout our economy […]
Is Big Government Back?
Since 1984 New Zealand has embarked on what has been labelled a ‘neoliberal’ course. We have been moving away from the Roger Douglas and Ruth Richardson agenda under recent governments of both National and Labour, but many of the core reforms have remained intact. Are we going forward to the past? Think Big! In reaction […]
Global Economic pandemic due to COVID19 is worse than 2008 financial crisis.
Damien Grant from Waterstone Insolvency wrote in NBR a mere two years ago of the unsustainable nature of the monetary and fiscal strategies being pursued by governments and monetary authorities. In it he declared “The economic good times are funded by debt-fuelled consumer spending and malinvestment by firms tricked by the low cost of capital. […]
COVID-19 and the next economic recession
We’re plunging into the biggest period of uncertainty since the GFC, but it isn’t 2008 that we should be looking back to. It is 1929.
Is a bulldozer a motor vehicle?
Two firms scrap over a bulldozer
Asking your creditors for help?
Many small business owners find themselves swamped in debt. A big client falls over and leaves a large unpaid bill, or a planned expansion goes terribly wrong and suddenly what was a profitable little business is facing ruin. The Companies Act has a simple process, called the Part 14 Compromise (named after part 14 of […]
Is regulation finally here?
In April 2010, back when New Zealand had only one Rugby World Cup title and the Warriors had yet to win a NRL Premiership, the Hon Judith Collins introduced the Insolvency Practitioners Bill to Parliament. Ms Collins brought to Parliament’s attention a great problem. Hon Judith Collins: “Almost anybody, as long as they are not […]
Mainzeal and Ebert
Mainzeal collapsed in 2013. Creditors lost a staggering $110 million dollars. It has taken the liquidators six years to get a win in court, with the High Court finding the directors collectively liable for thirty six million, a third of the total losses of the company. Ebert was a smaller construction firm but their losses […]
The Failure & Judgment of Mainzeal
Damien and Brent discuss the rise and fall of Mainzeal and the issues around the recent judgement.
