Abstract
The Companies Act 1993 governs corporate restructuring and insolvency of New Zealand corporations, including distributions of a company's assets to creditors. New Zealand's main corporate restructuring processes are creditor compromises, schemes of arrangement, receivership, voluntary administration and liquidation. There are no circumstances under which a company or its directors are obliged to commence formal insolvency proceedings. However, directors may initiate formal insolvency proceedings to minimize the risk of personal liability for reckless trading
| Original language | English |
|---|---|
| Title of host publication | COVID-19 Exploring the New Normal in Insolvency |
| Editors | Dr. Sameer Sharma, Dr. Neeti Shikha |
| Place of Publication | New Delhi |
| Publisher | Bloomsbury Publishing |
| Pages | 79-88 |
| Volume | 1 |
| ISBN (Print) | 9789354354892 |
| Publication status | Published - 2021 |