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.
Will we crash, or stall?
Has our debt levels doomed the buoyant economic weather?
So how do Voidable Transactions exactly work?
Consider two conflicting public policy goals: 1. In a liquidation all creditors are to be treated equally, paid according to the priority set down by Schedule seven (staff first, overdue GST and PAYE, then unsecured creditors). 2. It is important that suppliers to firms in trouble continue to supply, enabling struggling firms an opportunity to […]
Statutory Demands; What are they?
Got served or thinking of serving a Statutory Demand? Make sure you know what they are and how they work.
It’s a Matter of “Trust”
Should you be trading with Trusts? How much can you trust them?
The Misconception of Limited Liability
There is a firmly held misconception about the application of Limited Liability. This is a protection that is open to shareholders. It does not extend to directors and a Court of Appeal case has clarified the issues nicely. Case 1: MASON V LEWIS Mr and Mrs Lewis were minority shareholders and also directors of a […]
Regulation of Insolvency
Damien Grant made an oral submission to the Select Committee overseeing the Insolvency Practitioners Bill.
Video Below
Personal Liabilities of Liquidators, Receivers and Administrators
One of the joys of working in insolvency is the personal liability that attaches to much of what we do. There are three broad areas that Insolvency Practitioners work in; Receiverships, Liquidations and Voluntary Administrations – and the personal liability differs in each case. Naturally, an Insolvency Practitioner is never liable for any company debts […]
