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.
Insolvency Statistics – October 2014 Market Commentary So we have another term with a National led government which many business commentators have applauded. Let us hope that the NZ economy remains stable although it was interesting to note that the Reserve bank have been buying Kiwi dollars to stabilize the currency exchange rates. How ... read more.
So you think employees get a preference do you? It is reasonably well understood by professional advisers that when a company is placed into liquidation, employees of that company are afforded a certain level of preference for amounts owed to them when it comes time to divvy up the funds realised by a liquidator. ... read more.
Three strikes and you’re out? How many companies can fail before a directors actions are called into question and the Company Registrar seeks to ban them from being a director? Is it a three strike rule or is it more complicated than that? read more.
Do all Liquidators act professionally? Our current law in New Zealand is very relaxed on the issue of malpractice by liquidators. There is draft legislation awaiting passage through Parliament, which will provide for the potential banning of an individual from accepting appointment as a liquidator. But the proposed legislation will require proof of bad ... read more.
Insolvency Statistics – September 2014 Market Commentary It’s hard to write a commentary on current business markets in NZ without mentioning the Election. As always, an election overshadows everything else as businesses keep a close eye on the promises of, and policies being promoted by, the various political parties. Who gains power and what ... read more.
The Cost of Copyright Infringement If someone steals your idea what can you recover? Assuming you can prove your idea, invention or design has been copied and is being sold by someone else, there are two options in determining what you can recover. You can be put back in the position that ... read more.
Insolvency Statistics – August 2014 Market Commentary Dairy prices are back in the news and they aren’t making NZ farmers happy. Prices are dropping due to increased production overseas (ironically on the back of high prices last season) and from China stockpiling. So, all of a sudden, the world is over supplied. Perhaps, Fonterra ... read more.
Do You have an Exit Plan? Business under performance and lack of shareholder readiness to exit businesses to maximize the financial returns from a business are major issues facing the growing tide of baby boomer SME owner/operators who are looking to retire in the next decade. Many owners are heavily involved in the ... read more.
