Greece in Crisis – A Global Catastrophe? Will there be a “Grexit” or won’t there? Some commentators are suggesting it is irrelevant and we shouldn’t care. How can we feel the impact down here in New Zealand? Well, we are already starting to see the impact as other currencies gain against the Euro ... read more.
Welcome to Ben Francis! We are pleased to announce that Ben Francis has joined Gerry Rea Partners. Ben brings with him a great deal of experience in both the New Zealand and Australian business restructuring markets. We are pleased he has chosen to come home to NZ with his fiancee for the long ... read more.
ACTION STATIONS! The vast majority of companies in New Zealand are small or medium businesses. The people behind these businesses usually commence business with the desire to earn sufficient profit to enable significant returns to its shareholders. The reality is that very few businesses achieve the level of returns that the shareholders desire, with ... read more.
Insolvency Statistics – June 2015 Market Commentary Building consents are up on previous years for both commercial and residential new builds. Things are looking good for the building industry, at least, in the main cities. However, the debate continues to rage over increased house prices and the risks to the economy. Real estate agents ... read more.
Are you a Loser? No we are not asking whether you are successful or not, but whether in operating your business you are losing money. No, not making losses, but being ripped off by your employees or business partners. Often the business will lose about as much as it can bear with the ... read more.
Insolvency Statistics – May 2015 Market Commentary It’s been an interesting week in Europe. Apart from the, apparent, shock Conservative victory in the General Election, the Scottish National Party took 50 out of 56 Scottish seats. With the risk of a second referendum on Scottish Independence and the certainty of a referendum on the ... read more.
Hands Off! A recent Court of Appeal decision has prevented the Official Assignee gaining access to the Kiwisaver funds of individuals who have been declared bankrupt. The decision will no doubt anger many creditors who were hoping to receive some recompense. read more.
Did Creditors Really Win? While there has been some rejoicing from the creditors involved in the recent “Fences & Kerbs” Supreme Court decision last month, the wider question has not been answered. Have trade creditors, in general, benefited from this decision? The New Zealand Voidable Preference regime dates back to early English insolvency ... read more.
Insolvency Statistics – April 2015 Market Commentary With Dairy prices at a low, it should have come as no great surprise that Fonterra reduced its forecasted dividend. Share prices have dropped and forecasters are suggesting, with production down, farmers will be looking to sell more shares which will reduce the price further. In ... read more.
When Asset Stripping Goes Bad The Companies Act provides a liquidator with a number of options for recovery against third parties (including directors) when a company has been subject to asset stripping. When a company is placed into liquidation, the liquidator has various powers and duties under the Companies Act, including reviewing transactions ... read more.
