Economic Disparity Claims S.15 Property (Relationships) Act 1976 On separation, you may be able to claim a larger share of the available assets because of the division of duties during the relationship. For simplicity let us refer to the parties as husband and wife (we are somewhat old-fashioned) they could be partners, same ... read more.
Insolvency Statistics – January 2015 A Year in Review 2014 was a slow year for insolvency appointments which have dropped to levels not seen since before both the GFC and the finance company crashes. The graph below shows the insolvency appointments (liquidations, receiverships and administrations) for the last four years. The drop is clear, ... read more.
Market Commentary – January 2015 The situation in Greece is worrying and the potential knock on effect to the rest of the world cannot be underestimated. If their banks are allowed to fail, Europe will bear the brunt of the crisis but in this global economy no country will be truly safe from any ... read more.
Employees Preference in Liquidations Confirmed As a result of a November 7 decision of the Supreme Court concerning Jennings Roadfreight Limited, the right of Inland Revenue to claim funds in a company bank account at liquidation in preference to all other creditors has been denied. This effectively puts employees’ claims back at the top ... read more.
Insolvency Statistics – December 2014 Market Commentary It looks as though petrol prices are finally dropping. With the cost of crude oil over 40% less now than it was in June, it has taken a while for the cost saving to reach the pumps. US oil prices hit a 5 year low. Happy news ... read more.
Plan Your Exit! It is remarkable how many directors and shareholders do not have an exit strategy. The company becomes their life and they fail to consider what will happen when they eventually want to retire or, heaven forbid, become sick. An exit strategy is a vital requirement for any investor and should ... read more.
Insolvency Statistics – November 2014 Market Commentary It’s been a bit of an “up and down” month with global stock markets fluctuating amid both the Ebola scare and further terror threats from ISIS. As far as the NZ Economy is concerned, commodity prices dropped for the eighth month in a row with dairy ... read more.
Can an Administrator sell the company assets? The simple answer is yes but only if it is in the best interest of the creditors to do so. When a company is placed into Voluntary Administration, the administrator(s) must quickly decide if the company can be traded on and if a Deed of Company Arrangement ... read more.
Problems with Minority Shareholdings For some quirk of fate we have recently been involved on both sides in a slew of claims by minority shareholders who believe they have been disadvantaged. Most have acquired a small parcel of shares as a result of their employment while many were sales representatives of the company; ... read more.
When does a secured creditor lose its rights? There are a number of circumstances whereby a creditor can lose their security. The most common error is to fail to register a financing statement on the Personal Property Securities Register (PPSR). The creditors security is then deemed “unperfected”. If another creditor registers correctly on the ... read more.
