How does voluntary administration work? Introduced into New Zealand company law on November 10, 2007, the process of ‘voluntary administration’ is a business rehabilitation scheme intended to be a short-term measure that freezes the company’s financial position while an appointed administrator and the company’s creditors determine the organisation’s future. The focus of the ... read more.
2016 1st Quarter Appointment Figures There were 231 appointments in March 2016. 215 liquidations and 16 receiverships were recorded. The volume of liquidations is marginally down from last year while the number of receivership appointments was slightly up. Total insolvency appointments stand at 678 for the year to date. Applications made to the ... read more.
The objective of an expert witness Deciding if an expert is needed – and if so, what kind – must be addressed before beginning a search for an expert witness. When the facts and issues of the case are not easily comprehensible – when they fall outside the common experience of judges and ... read more.
The Official Cash Rate (OCR) continues to drop as the Reserve Bank of New Zealand (RBNZ) announced it fell 25 basis points to 2.25 percent on March 10, 2016. The OCR – an interest rate set by the RBNZ – principally determines the wholesale price of borrowed money. This directly affects the way commercial ... read more.
Risky business: pre-purchasing goods in exchange for vouchers Have you recently purchased a gift voucher for a loved one? Have you ever made travel plans in advance and received vouchers redeemable for tours and accommodation? Have you ever pre-bought vouchers for experiences such as a hot air balloon ride or a round of mini ... read more.
How business restructure may create tax advantages If the process is handled properly, solvent companies undergoing restructure, merger, and/or acquisition may see some tax benefits. An important issue to focus on during business restructure, merger or acquisition is ensuring no associated person capital gains arise. As it is common for existing companies to ... read more.
Five year review (2011 – 2015): insolvency statistics Grand total Administration – 57 Liquidation – 12391 Receivership – 954 Total – 13402 What are the important trends in the numbers over the past five years? The volume of appointments is lower than it was pre- global financial crisis. Certain ... read more.
Racing to the market: the automobile industry revs their engines Driverless cars were all the rage at the Consumer Electronics Show in Las Vegas earlier this year, where more than 100 tech companies showcased their latest developments. Tesla, Kia, Ford and Google all promoted their latest advances towards the goal of an autonomous car. ... read more.
Insolvency Statistics – November 2015 September, October & November Comparison of Insolvency Appointments 2011, 2012, 2013, 2014 & 2015 What are the figures showing? There were 205 insolvency appointments in November 2015 which is down from the previous four years. There were 6 receivership appointments, 199 liquidations recorded and no ... read more.
Barfoot & Thompson’s average selling price of $876,075 in November was up 4.2% compared to October’s average price of $840,402. Last year, the average selling price was just $756,909 in November, meaning the average selling price rose by $119,166 (15.7%) in just 12 months. The median price of $795,000 over the past month ... read more.
