What are the Consequences of Liquidation?

01 Blog 01 Blog By If a company cannot repay its debts, it is insolvent. An insolvent company may go into liquidation. There are two types of insolvent liquidation in New Zealand: Voluntary liquidation, initiated by company shareholders, and liquidation by creditor, initiated by external parties. When a company goes into liquidation, a professional liquidator […]

Director Duty Breach leads to recovery by creditors: Norling Law Success

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01 Blog Director Duty Breach leads to recovery by creditors: Norling Law Success In a decisive judgment released recently, the High Court has ordered a director to personally pay the losses of two unsecured creditors of the company in full, plus interest due to the breaches of director duties. In addition to that, the Court […]