Voluntary Administration is a less known alternative to liquidation. How does it work? The board of directors resolves to put the company into administration. Administrators take control of the company. Creditors rights to pursue the pre-administration debt freezes for a five-week period (potentially extended by the court). An initial meeting of creditors is held, where ... read more.
Posts tagged with “insolvency statistics”
The Government on the 3rd of April proposed some legislative changes to the Companies Act in order to support business that are struggling due to the COVID-19 lockdown. One of the more interesting changes was the proposal to allow business to place their debts into hibernation. So, what is “Business Debt Hibernation”? Exact details aren’t ... read more.
Insolvency stats for April to June 2017 How does this timeframe in 2017 compare to the last five years? What’s happening in the market Forex NZ and Forex NZ 2000 have both gone into liquidation. While the director of both companies has admitted to wrongdoing with the treatment of ... read more.
There were 177 appointments in September 2016. 164 liquidations, no administrations and 13 receiverships were recorded. Total insolvency appointments stand at 1,717 for the year to date which is down on previous years. Applications made to the High Court to liquidate companies in September 2016 totalled 23. This is considerably lower than ... read more.
There were 168 appointments in July 2016. 156 liquidations, no administrations and 12 receiverships were recorded. The volume of liquidations is down on those seen in July for each of the last 5 years, however, receiverships have increased. Total insolvency appointments stand at 1331 for the year to date which is down on ... read more.
There were 180 appointments in May 2016. 170 liquidations, 3 administrations and 7 receiverships were recorded. The volume of liquidations is down on those seen in May 2012, 2013 & 2014, but close to those seen last year. Total insolvency appointments stand at 938 for the year to date which is down on 2015, ... 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.