Publications
We are experts in litigation and dispute resolution. We have a core focus on Insolvency and Restructuring. As such, here we analyse new and recent cases that are relevant to the areas to which we practice. We also publish helpful guides and various areas of our practice.
Our analysis is set out in our blog below.
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Annulment and Early Discharge from Bankruptcy
Introduction Generally, bankruptcy lasts for a period of three years. During this time, a bankrupt is subject to onerous...
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Voidable Transactions: The Rationale
If you have ever ‘stood-by’ a customer who is going through a rough patch by continuing to supply goods/services on credit...
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Reckless Directors of Mainzeal ordered to pay $36 million
The Authors of this article are Brent Norling and Jeff Greenwood.Introduction Mainzeal Property and Construction Ltd (in...
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Injunctions to stop a Company Receivership
The Authors of this article are Brent Norling and Anna Cherkashina (who were also successful Counsel in the decisions...
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Remuneration of Directors
Directors of companies are entitled to receive money from their company, such as salary or wages, bonuses, fridge benefits...
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Forced Creditor Compromise? Supreme Court Sets It Aside!
Unsurprisingly, the Supreme Court (by majority of 3 to 2) has upheld the Court of Appeal and High Court decisions to set...
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The 10 Top Issues to Discuss and Document Before Entering into a Business Relationship
66% of businesses fail. Because of our expertise, we see a lot of these businesses. There are many reasons why a business...
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Liquidator Confetti Requests for Documents and Information: Rights and Obligations
Section 261(3) of the Companies Act 1993 provides liquidators with extremely wide statutory powers to require various...
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Your Companies Office Annual Return
Our friends at Next Advisory have published some useful information on Companies Office Annual Returns. We often see...
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Phoenix Companies: The How, the Why and what to Avoid.
Just like the mythical bird that rises from the ashes, a phoenix company rises from the ashes of an old, failed company. It...
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Liquidation of corporate trustees
It is well reported that New Zealanders are keen establishers of trusts. Thanks to trusts, property owners are able to...
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What is Hiving-down and how can it be used in Corporate Rescue?
What is it? Despite what the name suggests, hiving-down has nothing to do with bees or itchy skin. A “hive-down” involves...
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Are Directors Who Breach their Duties Liable for Liquidation Costs – the Court of Appeal Has Disrupt
Directors breach their duties. It happens. A lot. If a liquidator is appointed, the liquidator may elect to pursue the...
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Duties of a bankrupt and consequences of failure to comply
Bankruptcy is a way to relieve a person of debts they owe to creditors, and where possible, repay those debts from the...
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Fuel your car! And your business!
***Slightly embarrassing story to follow*** So, I was driving on the motorway last week and my car lost power on a hill… It...
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Enforcement of Judgments: charging and selling property, garnishee and possession orders
In our second issue in our series of articles on enforcement of judgments, we discuss warrants to seize property and sale,...
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Enforcement of Judgments: Attachment Orders
We will be drafting a series of articles focused on the enforcement of Court judgments. This is the first in the series....
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How to reduce legal costs
Introduction This guide has been prepared to assist you in keeping your legal costs down. By following these few simple...
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Funded liquidators ordered to provide security for costs of $2.78 mil
The High Court has ordered the (funded) liquidators of Property Ventures Limited (“PVL”) and other related entities (“the...
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The Modernisation of Court Rules: what has changed?
The Judicature Modernisation Bill is the first major overhaul of the legislation governing New Zealand’s courts since 1908....
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The final word on (fictitious) profits from a Ponzi scheme
The Supreme Court has released a much-awaited decision in McIntosh v Fisk whereby the Liquidators of Ross Asset Management...
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Alternative to bankruptcy: Summary Instalment Orders
A Summary Instalment Order (“SIO”) provides another alternative to a debtor who does not have the means to immediately repay...
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Alternative to bankruptcy: No Asset Procedure
If a debtor is unable to repay its debts and believes there is no prospect of this changing, the No Asset Procedure (“NAP”)...
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Alternative to bankruptcy: Compositions and Proposals
Part 5 of the Insolvency Act 2006 enables a debtor to enter into an arrangement with creditors. Part 5 may be a good...
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Bankruptcy in brief
Bankruptcy can occur when an individual is unable to pay their debts as they become due. A debtor can make a voluntary...
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Appointment of interim liquidators
The Court may appoint an interim liquidator in order to maintain the value of a company’s assets during the period following...
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Appointment of liquidator by creditors
Most commonly, creditors appoint a liquidator by utilising the statutory demand process (if the debt is more than $1000) and...
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Statutory demands: the Basics
So you or your client have been served with a statutory demand. What does it mean? What are the consequences? What must I do...
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Trading Health Check: Lessons from liquidations
Companies are an excellent structure to ring-fence liability for a trading enterprise. Such a structure provides that the...
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Appointment of liquidator by shareholders
A company may be placed into liquidation by passing of a special resolution of its shareholders (see ss 106 and 241(2)(a) of...
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Untruthful statements to a liquidator immune from civil action
Liquidators often interview persons under oath pursuant to s 261 of the Companies Act. Interviews under oath are a useful...
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Parent company responsible for its subsidiary’s debts
In Lewis Holdings Ltd v Steel & Tube Holdings Ltd, the High Court held a parent company responsible to pay its...
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Supreme Court puts a lid on the voidable transaction regime
On 18 February 2015, the Supreme Court determined three appeals which involved a short but important point about the...
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Partially secured creditors can be at risk of claw back from liquidators
In February 2008, BB2 Holdings Limited (“BB2”) sold computer software and hardware to Doyle by Design Limited (“Doyle”). BB2...
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Supreme Court disagrees that IRD have super priority
Jennings Roadfreight Ltd (“Jennings”) was placed into liquidation on 24 March 2011. At liquidation it owed the IRD...
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Can a creditor position itself to evade the voidable transaction regime? Apparently so…
Maclean Computing Limited was placed into liquidation on 13 July 2012 and liquidators at Waterstone Insolvency were...
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Is a shortcut to debt recovery for voidable transactions okay? Court of Appeal says yes!
The liquidators of Quantum Grow Limited at Waterstone Insolvency served a voidable transaction notice on a related company,...
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Remuneration and benefits of company directors: lessons from liquidations
Directors are entitled to receive money from their company pursuant to certain legal obligations, like dividends, salary or...
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Has the value of D&O insurance diminished?
Am I Covered? The real value in Directors and Officers cover is that is allows a besieged director to fall back on the...
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Defining the reach of s 261 of the Companies Act 1993
Backdrop of recent authorities Section 261 of the Companies Act 1993 (“the Act”) confers on a liquidator the power to seek...
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